As a FTB what is the most important advice you can impart concerning purchase conveyancing in Downend?
Not many law firms shout this from the rooftops but conveyancing in Downend and elsewhere in Bristol is an adversarial process. In other words, when it comes to conveyancing there exists an abundance of opportunity for friction between you and other parties involved in the legal transfer of property. E.g., the seller, estate agent and on occasion a lender. Appointing a lawyer for your conveyancing in Downend should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the transaction whose role it is to protect your legal interests and to keep you safe.
Sometimes a potential adversary may attempt to sway you that it is in your interests to do things their way. For instance, the property agent may claim to be assisting by suggesting your lawyer is dragging his heels. Or your financial adviser may advise you to do something that is against your solicitors advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
We previously instructed conveyancing lawyers locally in Downend on the Virgin Money solicitor panel. They have just invoiced me an additional sum for handling the Virgin Money mortgage. Is this an additional conveyancing fee specified by Virgin Money?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your lawyer may charge a fee for this. The charge is not set by Virgin Money but by your Downend conveyancing practitioner. Some firms on the Virgin Money panel will quote ’dealing with mortgage’ fee but many practices incorporate it on their overall fee.
I am buying a property in Downend. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Santander be concerned?
Given that you are obtaining a mortgage with Santander your lawyer must comply with the formal requirements set out in Part two of UK Finance Lenders’ Handbook for Santander. The CML Handbook contains minimum specifications for solar panel roof-space leases, and solicitors are required to report to Santander where a lease does not satisfy these specifications. The provisions relate to the installation of panels on properties in England and Wales and is not limited to Downend.
The formalities of my purchase has taken place for my property in Downend. Conveyancing was a necessary evil but I would like to complain about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
How does conveyancing in Downend differ for new build properties?
Most buyers of new build or newly converted property in Downend contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because new home sellers in Downend tend to purchase the site, 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 property lawyers 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 accustomed to new build conveyancing in Downend or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Downend is the location of the property. Can you shed any light on this issue?
Flying freeholds in Downend are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Downend you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Downend 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.
We are 17 days into a freehold purchase having been referred to conveyancers by the estate agent to perform conveyancing in Downend. I am am very frustrated with the quality of service. Can you help me find new solicitors?
A conveyancer would have to be very poor in order to consider diss instructing them. Has your loan offer been generated? If so you must make them aware of the replacement lawyer and have the offer are re-issued. Your conveyancer should be on the lenders panel to avoid supplemental charges and complications. So that should be your starting point. The search tool should assist you in finding a lender approved conveyancer for your conveyancing in Downend
I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Downend. Conveyancing advisers have are about to be instructed. Will they explain the issues?
Most houses in Downend are freehold and not 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 Downend so you should seriously consider looking for a Downend conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant 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 changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer will appraise you on the various issues.
Downend Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
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Most Downend leasehold apartments will have a service bill for maintenance of the building set by the landlord. Where you purchase the apartment you will have to meet this amount, normally in instalments throughout the year. This could differ from two or three hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a ground rent to be met annual, normally this is not a large amount, say about £50-£100 but you need to check as occasionally it could be many hundreds of pounds. It is important to be aware whether redecorating or some other major work is anticipated that will be shared between the leaseholders and may well materially increase the the service fees or require a one off invoice. The answer will be useful as a) areas could result in problems in the building as the common areas may start to deteriorate where services are not paid for b) if the leasehold owners have a dispute with the managing agents you will wish to have all the details