I had intended to instruct a property lawyer in Bristol for our house purchase. Our financial adviser has since notified us that our mortgage company Virgin Money won't deal with them. Surely this is unduly restrictive?
Banks ordinarily imposes restrictions either the category or the amount of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, a few lenders have limited the number of firms they allow to act for them. Be aware that Virgin Money have no responsibility for the quality of advice provided by any member of Virgin Money Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels since 2008 even though there remains mixed views concerning the level of solicitor involvement in some of that fraud. Statistics from the Land Registry indicate that hundreds of law firms, including some in or near Bristol only carry out very few conveyances per annum.
We are downsizing from our house in Bristol and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. Any local conveyancer would know this is not the case. For the life of me I don't know why the buyers used a factory type conveyancing practice as opposed to a conveyancing solicitor in Bristol. Having lived in Bristol for many years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You need to 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 life insurance to cover that same ailment)
I have recentlyfound out that Wolstenholmes have been shut down. They conducted my conveyancing in Bristol for a purchase of a leasehold flat 18 months ago. How can I establish that the property is in my name in the name of the previous owner?
The quickest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bristol conveyancing specialists.
How does conveyancing in Bristol differ for newly converted properties?
Most buyers of new build property in Bristol come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is finished. This is because builders in Bristol tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Bristol or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Bristol is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bristol are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bristol you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bristol may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Do I need to be suspicious by brokers that I am dealing with are recommending a nationwide conveyancing firm as opposed to a High Street Bristol conveyancing company?
As is the case with many service providers, often recommendations from relatives can be worth their weight in gold. Yet there are lots of parties with a vested interest in a conveyancing matter; estate agents, mortgage brokers and lenders might all suggest conveyancers to select. Sometimes the conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there may be a commercial relationship behind the recommendation. You are at liberty to choose your own conveyancer. You need to be aware that most lenders specify a panel list of conveyancers you are obliged to use for the mortgage aspect of your transaction.