We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel lawyer as I would prefer to instruct a specialised conveyancing solicitor in Frenchay Common?
You should check but the chances are that allocate you one of their panel lawyers if you take up the "fee-free" incentive. Call the bank and see if they offer you a monetary alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Frenchay Common.
Me and my partner are purchasing a apartment in Frenchay Common. It might be a silly question but how we can trust a lawyer? At some point we have to send our life savings into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My father informed me that in purchasing a property in Frenchay Common there could be various restrictions prohibiting external changes to the property. Is this right?
We are aware of a number of properties in Frenchay Common which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Frenchay Common should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am currently in the process of buying my council flat in Frenchay Common. I have a mortgage agreed with Bank of Ireland. 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 use 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 Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
A friend recommended that if I am buying in Frenchay Common I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your Frenchay Common conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Frenchay Common around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful data about Frenchay Common.
I am purchasing a new build house in Frenchay Common with a loan from Aldermore. The sellers refused to reduce the amount so I negotiated 6k of additionals instead. The property agent told me not inform my lawyer about the extras as it would adversely affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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'm converting the mortgage on my current home to a BTL mortgage with Clydesdale and I will use the rest of the raised equity as a deposit on another property. The neighborhood we are talking about is Frenchay Common. Will your lawyers be able to act for the two lenders and tie in the transactions?
Make use of our search tool on this page to be sure that the conveyancers are approved by both mortgage companies. Assuming that they are the conveyancer should be able to tie up the two deals but you should talk with you lawyer and make apparent your expectations and requirements.
I wish to sublet my leasehold flat in Frenchay Common. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A lease governs the relationship between the landlord and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Frenchay Common do not prevent subletting altogether – such a clause would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I inherited a leasehold flat in Frenchay Common, conveyancing formalities finalised 7 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Frenchay Common with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2089
You have 64 years unexpired we estimate the premium for your lease extension to be between £14,300 and £16,400 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.