I was notified yesterday by my lender that my Bournemouth solicitor is not on the mortgage company Solicitor panel. What can I do to be certain if this is indeed the case?
The sensible course of action for you to take is to contact your Bournemouth conveyancer. It is reasonable to expect your lawyer to notify you what has happened. If they are not on the panel they may be able to suggest a Bournemouth conveyancing practice that is on the approved list of lawyers for your mortgage company.
After looking at mumsnet.com for an online solicitor in Bournemouth, many post that I should use a CQS kitemarked lawyer. What is CQS?
Bournemouth Conveyancing Quality Scheme law firms have been granted accreditation under the Law Society's Scheme (CQS) The Law Society introduced CQS to establish evidence of quality standards in the in the legal transfer of properties. CQS helps buyers and sellers to identify practices who provide a quality residential conveyancing. Bournemouth is one of the many areas in England and Wales in which CQS have offices. The conveyancing scheme requires law firms to undergo a strict assessment, compulsory training, self-reporting, spot checks and annual reviews in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Association of British Insurers.
Me and my brother purchased a renovated Edwardian house in Bournemouth. Conveyancing solicitor represented me and The Royal Bank of Scotland. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bournemouth and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing solicitor who conducted the work.
How does conveyancing in Bournemouth differ for newly converted properties?
Most buyers of new build premises in Bournemouth contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because house builders in Bournemouth typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Bournemouth or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a straight forward, no chain conveyancing. Bournemouth is where the house is located. What do you suggest?
Flying freeholds in Bournemouth are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bournemouth you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bournemouth may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I've recently bought a leasehold flat in Bournemouth. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Bournemouth Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
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Does the lease contain onerous restrictions? Where a Bournemouth lease has less than 80 years it will affect the value of the apartment. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will most likely need a lease extension sooner rather than later and you need to have some idea of what this would cost. For most Bournemouthlease extensions you will be required to have been the owner of the residence for a couple of years before you are legally able to exercise a lease extension. Who are the managing agents?