I am in the process of selling my maisonette in Bude and the EA has just called to say that the purchasers are swapping property lawyer. I am told that this is due to the fact that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a big named lender only work with specific lawyers rather the firm that they want to choose for their conveyancing in Bude ?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Lenders point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
Please help. My Bude solicitor is advising me that she is duty bound toorder Bude conveyancing searches stemming from the fact thatthe firm are on the Santandersolicitor panel. These Bude searches cost a lot of money can this be avoided?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Bude conveyancing searches.
Have just purchased a probate house at auction in Bude. Conveyancing is necessary. What is next?
Having legally bound yourself to purchase you should find a conveyancing practitioner quickly as you are facing a fast approaching a fixed date to complete the conveyancing. An auction property should have a corresponding legal pack. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the conveyancing pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to a leasehold property. You should give this to the conveyancer instructed by you at the earliest opportunity. You also need to ensure that you have funds in order to complete on the on the contractual date .
We have agreed to purchase a house in Bude. A rare aspect is that the roof has a solar panel. Barclays have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Barclays your lawyer must follow the conveyancing requirements contained in Part two of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Barclays where a lease does not comply with these specifications. The specifications relate to the installation of panels on properties in England and Wales and is not limited to Bude.
I have decided to exercise my right to buy my property in Bude off the council. I have a mortgage agreed with TSB. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
I am looking for a ground for flat up to £305k and identified one round the corner in Bude I like with open areas and railway links nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Bude suitable, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage that many years may be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this.
In my capacity as executor for the estate of my uncle I am selling a residence in Swansea but reside in Bude. My solicitor (who is 300 miles awayneeds me to execute a statutory declaration before the transaction finalising. Can you recommend a conveyancing practitioner in Bude who can witness this legal document for me?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are Bude based
My wife and I purchased a leasehold flat in Bude. Conveyancing and Barclays Direct mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Bude who previously acted has now retired. Any advice?
The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Bude conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Bude Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
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Be sure to discover if there is anything that is prohibited in the lease. By way of example it is very common in Bude leases that pets are not permitted in in a block in Bude. If you love the apartmentin Bude yet your dog is not allowed to make the move with you then you will be faced hard choice. The majority of Bude leasehold apartments will be liable to pay a service charge for the upkeep of the building set by the freeholder. If you purchase the apartment you will have to meet this amount, normally periodically during the year. This may vary from two or three hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a ground rent for you to pay annual, ordinarily this is not a exorbitant amount, say approximately £25-£75 but you need to enquire it because sometimes it can be surprisingly expensive. What prohibitions are contained in the Bude Lease?