Me and my fiance are buying a ground floor flat in Bruton. My Solicitor has never been on on the lender approved panel. Am I still permitted to retain my Bruton conveyancing solicitor even though they are excluded from the mortgage company panel?
Your options include
- Proceed with your preferred Bruton property lawyer but your lender will need to retain a lawyer from their approved panel. This will result in additional fees together with likely interruption.
- Choose a fresh property lawyer to conduct the conveyancing, making sure they are on the mortgage company conveyancing panel.
- Convince your conveyancer to attempt to join the mortgage company panel
Our god-son is in the process of securing a house that has just been built in Bruton with a home loan from Virgin Money. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am selling our house in Bruton and according to the buyers it appears that there is a risk of it being built on contaminated land. A local lawyer would know this is not the case. For the life of me I don't know why the buyers instructed a nationwide conveyancing firm rather than a conveyancing solicitor in Bruton. Having lived in Bruton for 4 years we know of no issue. Should we get in touch with our local Authority to get clarification need.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You should check with 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 been on the look out for a flat up to £235,500 and identified one round the corner in Bruton I like with a park and transport links in the vicinity, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in Bruton for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a mortgage that many years may be an issue. 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 a minimum of 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 existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
I need to find a conveyancing solicitor for my conveyancing in Bruton. I have stumble across a web site which looks to be the ideal offering If there is a chance to get all formalities done via web that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Bruton. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Bruton ?
Most houses in Bruton are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. We note that you are purchasing in Bruton in which case you should be shopping around for a Bruton conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your lawyer will report to you on the legal implications.
Bruton Leasehold Conveyancing - Sample of Questions you should consider Prior to buying
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Are there any major works in the planning that could increase the maintenance charges? Plenty Bruton leasehold flats will incur a service bill for maintenance of the building set on behalf of the freeholder. Should you buy the property you will have to pay this liability, usually quarterly throughout the year. This could be anything from two or three hundred pounds to thousands of pounds for blocks with lifts and large common areas. There will also be a rentcharge for you to pay annual, normally this is not a significant sum, say about £50-£100 but you need to enquire as occasionally it could be many hundreds of pounds. What is the the remaining lease term?