Is the fact that my solicitor in Bristol is not listed on my bank's conveyancing panel that there is a problem with the standard of the firm’s work?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Bristol conveyancing practice and enquire why they are no longer on the approved list for your bank.
When it comes to lenders such as Aldermore, do Bristol lawyers have to pay an annual charge to be on the list of approved solicitors?
We are unaware of any lender fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
Can I be sure that the Bristol conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Bristol getting recommendations is a good 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 advertising the lowest fees. We would always suggest that you speak with the lawyer carrying out your transaction.
I have a mortgage with Nottingham for my property in Bristol. Conveyancing has been completed a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Nottingham?
You must advise Nottingham prior to letting out your property as this is likely to be a breach of Nottingham’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nottingham directly. It should not be necessary to do this via a Nottingham conveyancing panel solicitor.
Various web forums that I have frequented warn that are the main cause of stalling in Bristol conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances during the legal transfer of property. Searches are not likely to be the root cause of delay in conveyancing in Bristol.
Are there restrictive covenants that are commonly identified as part of conveyancing in Bristol?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Bristol. 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 have been advised by numerous selling agents in Bristol to choose a solicitor on your site. What’s the financial incentive for Estate Agents to promote your site over and above alternative conveyancing organisations?
We don’t give any financial incentive for directing people in our direction. We thought it would be too underhand to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I've found a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Bristol. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
The majority of houses in Bristol are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Bristol so you should seriously consider shopping around for a Bristol conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should appraise you on the various issues.
I am the registered owner of a 1st floor flat in Bristol, conveyancing was carried out in 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Bristol with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ends on 21st October 2096
With 70 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.