Please explain the implications if my lawyer’s firm is suspended from the Clydesdale Conveyancing panel ahead of completing my conveyancing in Bridgnorth?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Have just purchased a repossessed house at auction in Bridgnorth. Conveyancing is required. What is next?
Given that you have now for in every practical sense signed on the dotted line you should appoint a conveyancing solicitor soon as you will have a fast approaching a fixed date to complete the deal. All auction property will ordinarily have a corresponding auction pack. This should include most,if not all of the documents that your conveyancer will need. If you have purchased leasehold property the conveyancing papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to a leasehold property. You should hand this to the conveyancer instructed by you at the earliest opportunity. Do make sure that you have funds in order to complete on the date specified in the contract.
My wife and I are spending time viewing flats in Bridgnorth and I am about to put in an offer. Is it too early to have a solicitor in place? I will be getting a home loan with UBS.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. As you are obtaining a mortgage with UBS, make sure you remember to check that your lawyer is on the UBS conveyancing panel.
The formalities of my remortgage has taken place for my property in Bridgnorth. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Various internet forums that I have come across warn that are a common reason for stalling in Bridgnorth conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Bridgnorth.
Are there restrictive covenants that are commonly identified as part of conveyancing in Bridgnorth?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Bridgnorth. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am purchasing my first flat in Bridgnorth benefiting from help to buy. The builders refused to budge the price so I negotiated 6k of extras instead. The estate agent suggested that I not inform my conveyancer about the side-deal as it will impact my loan with Platform Home Loans Ltd. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Frank (my husband) and I may need to let out our Bridgnorth basement flat for a while due to taking a sabbatical. We instructed a Bridgnorth conveyancing firm in 2003 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
A small minority of properties in Bridgnorth do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I invested in buying a ground floor flat in Bridgnorth, conveyancing formalities finalised in 2007. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Bridgnorth with a long lease are worth £197,000. The ground rent is £55 invoiced annually. The lease runs out on 21st October 2081
You have 55 years remaining on your lease we estimate the premium for your lease extension to be between £31,400 and £36,200 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.