Me and my partner are soon to complete buying a property in Bristol but as a result of damage from the recent storms I have was able negotiate recompense from the vendor of £2k in the form of a reduction in the price. This was going to be dealt with as part of the conveyancing process yet Aldermore will not permit this. Should they have been involved?
Any property lawyer being on the Aldermore approved list is obliged to disclose to Aldermore of any changes to the sale price. If you were to refuse your conveyancer to disclose the reduction to Aldermore then they would have to discontinue acting for you. In addition, Aldermore and you would have to appoint a new conveyancing practitioner for your conveyancing in Bristol.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Is the implication that I have to use their panel solicitor as I would prefer to use a Bristol based conveyancing firm?
Do check but the the likelihood is that appoint one of their panel solicitors if you accept the "fee-free" offer. Speak to the bank to check if they allow a monetary alternative. Some lenders have previously offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Bristol.
When it comes to mortgage companies such as Skipton, do Bristol conveyancers have to pay a fee to be on the list of approved solicitors?
We are not aware of any bank fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
How can we tell if a Bristol conveyancing solicitor on the RBS panel is any good?
When it comes to conveyancing in Bristol 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 advertising the lowest fees. We would always suggest that you speak with the solicitor carrying out your conveyancing.
The mortgage over my property is with Virgin Money for my property in Bristol. Conveyancing was finalised some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Virgin Money?
Your original mortgage agreement with Virgin Money will provide that you need their approval before renting your property as this is likely to be a breach of Virgin Money’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 Virgin Money directly. You need not do this via a Virgin Money conveyancing panel solicitor.
My wife and I own a 4 bedroom Edwardian property in Bristol. Conveyancing practitioner represented me and Clydesdale. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold with the exact same address. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bristol and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing solicitor who carried out the work.
I am buying my first flat in Bristol with a loan from TSB. The sellers would not move on the price so I negotiated five thousand pounds worth of extras instead. The property agent told me not inform my conveyancer about the deal as it would put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.
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.
I have been advised by a few property agents in Bristol to choose a conveyancer using your seach tool. What’s the financial incentive for Estate Agents to promote your site over and above another?
We refuse to offer any commission for directing people our way. We found it would be just too difficult to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.