I have just been advised by my broker that my Bridgnorth solicitor is not on the mortgage company Conveyancing panel. What can I do to check?
The sensible course of action for you to take is to call your Bridgnorth lawyer directly. You lawyer should advise you what has happened. If they are not on the panel they may recommend you to a Bridgnorth conveyancing firm that is on the approved list of lawyers for your mortgage company.
My wife and I are acquiring a newly built duplex in Bridgnorth and my lawyer is advising me that she is duty bound to the bank to disclose incentives from the developer. I am on a tight deadline to sign contracts and I have no desire to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My wife and I purchasing a 4 bedroom semi-detached house in Bridgnorth. The intention is to carry out an extension to the side at the house.Will legal conveyancing on the property include checks to see if these works are permitted?
Your property lawyer should check the registered title as conveyancing in Bridgnorth will on occasion identify restrictions in the title deeds which prevent certain alterations or need the permission of a 3rd party. Certain additions need local authority planning consent and approval in compliance with building regulations. Certain locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
My husband and I have arranged the release of further funds on our mortgage from Aldermore as we want to carry out improvements to our house in Bridgnorth. Are we obliged to select a nearby Bridgnorth solicitor on the Aldermore conveyancing panel to deal with the paperwork?
Aldermore do not ordinarily appoint a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore conveyancing panel.
I am selling my apartment. I had a double glazing fitted in December 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, UBS are being difficult. The Bridgnorth solicitor who is on the UBS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but UBS are requiring a building regulation certificate. Why do UBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that UBS have referred the matter to their valuer. The reason why UBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one near me in Bridgnorth I like with a park and station nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Bridgnorth for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the shortness of the lease may be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
What does commercial conveyancing in Bridgnorth cover?
Bridgnorth conveyancing for business premises covers a wide range of services, provided by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I am tempted by the attractive purchase price for a two apartments in Bridgnorth which have about 50 years remaining on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorates and it becomes more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena.
Bridgnorth Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
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Can you inform me if there are any major works in the planning that could add a premium to the service costs? It would be sensible to discover as much as possible concerning the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to practical issues such as the cleanliness of the common parts. You should not be shy to ask other people what they think of them. On a final note, investigate as to the dates that the maintenance charges are due to the managing agents and precisely how they are spending the funds. Who takes charge for maintaining and repairing the block?