I am considering applying for a Santander mortgage for purchase of a newly converted (under development) in Bow Street with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Santander ?
In theory, you could use a solicitor that is not on the Santander conveyancing panel, but Santander would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
What is the difference between a licensed conveyancer and conveyancing solicitor in Bow Street
There are many registered licenced Conveyancers in Bow Street and Solicitor firms in Bow Street who can assist with your conveyancing It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. Both can deal with associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
How can we tell if a Bow Street conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in Bow Street seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer carrying out your transaction.
Our offer on a detached house in Bow Street has been agreed to, but there is a chain. The sellers have offered on a flat, but it’s not yet agreed to, and are looking at other flats in the pipeline. I have instructed a nearby conveyancing solicitor in Bow Street. What do I do now? At what point do I apply for the mortgage with Santander?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of £1k, then survey, Bow Street conveyancing search fees, etc). The first course of action is to ensure that your lawyer is on the Santander conveyancing panel. As to the subsequent phase this very much dictated by the uniqueness of your case, motivation for the property and on the state of the market. During a hot market many purchasers would apply for the mortgage with Santander and arrange for the valuation and only if it was satisfactory would they ask their conveyancing practitioner to proceed with searches.
I am close to exchanging contracts on the sale of our property in Bow Street and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed an online conveyancing firm rather than a conveyancing solicitor in Bow Street. Having lived in Bow Street for six years we know that this is a non issue. Should we contact our local Authority to obtain confirmation that the buyers are looking for.
It would appear that you have a conveyancing firm already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
What does commercial conveyancing in Bow Street cover?
Commercial conveyancing in Bow Street incorporates a broad range of guidance, supplied by qualified solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
In my capacity as executor for the estate of my uncle I am selling a residence in Neath but reside in Bow Street. My lawyer (who is 260 miles awayneeds me to sign a stat dec before the transaction finalising. Can you recommend a conveyancing lawyer in Bow Street who can attest and place their company stamp on the document?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will be fine regardless of whether they are located in Bow Street
I am employed by a reputable estate agency in Bow Street where we have witnessed a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Bow Street conveyancing solicitors. Please can you clarify whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Bow Street Leasehold Conveyancing - Sample of Queries before Purchasing
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What is the length of the lease? Most Bow Street leasehold properties will be liable to pay a service charge for the upkeep of the building set on behalf of the freeholder. If you acquire the property you will have to meet this amount, normally in instalments throughout the year. This may be anything from a few hundred pounds to thousands of pounds for buildings with lifts and large communal areas. In all probability there will be a ground rent for you to pay yearly, normally this is not a significant amount, say around £25-£75 but you should to check as sometimes it can be many hundreds of pounds. How is the lease structured?