Please help. My Bow Street lawyer is informing me me that he is legally obliged toorder Bow Street conveyancing searches asthe firm are on the Santandersolicitor panel. Is my solicitor right?
You have limited options available to you. Given that you are taking out a loan with a lender your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Bow Street conveyancing searches.
I'm the sole recipient of my late grandmother’s will and I have everything in my name now, including the house in Bow Street. Conveyancing formalities meant that the Land Registry date was in September. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership may be regarded the same way as if I'd bought the house in September. Is the property unsalable for six months?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How practical a view banks take of it, depend on the lender as this requirement primarily exists to pick up on the purchase and immediately sell or the quick reselling of property.
We have agreed to purchase a house in Bow Street. A rare aspect is that the roof has a solar panel. Principality have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Principality your lawyer must follow the formal instructions outlined in Section two of UK Finance Lenders’ Handbook for Principality. The Council of Mortgage Lenders’ Handbook stipulates minimum specifications for solar panel roof-space leases, and property lawyers are required to report to Principality where a lease does not comply with these requirements. The requirements relate to the installation of panels on properties in England and Wales and is not isolated to Bow Street.
I am currently in the process of buying my council flat in Bow Street. I have a mortgage offer with Co-operative. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Co-operative, you will need to appoint a solicitor on the Co-operative conveyancing panel.
I have been on the look out for a leasehold apartment up to £195,000 and found one close by in Bow Street I like with amenity areas and station nearby, however it only has 52 remaining years left on the lease. There is not much else in Bow Street for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage the shortness of the lease will be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
How can the Landlord & Tenant Act 1954 impact my commercial offices in Bow Street and how can your lawyers assist?
The 1954 Act provides protection to business tenants, giving them the right to make a request to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and assist with commercial conveyancing in Bow Street
As co-executor for the estate of my uncle I am selling a house in Swansea but I am based in Bow Street. My conveyancer (approximately 235 miles from meneeds me to sign a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing practitioner in Bow Street who can attest this legal document for me?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are Bow Street based
Estate agents have just been given the go-ahead to market my basement apartment in Bow Street. Conveyancing has not commenced, but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as normal as all rents and maintenance invoices will be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Bow Street Leasehold Conveyancing - Sample of Questions you should consider Prior to buying
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Are there any major works in the planning that could increase the maintenance fees? What restrictions are contained in the Bow Street Lease? How is the lease structured?