Do the Building Society Association intend to launch a search tool with a view to to identify firms on the Melton Mowbray Building Society conveyancing panel for example in Keynsham?
We have not been informed any intention on the part of the BSA to develop such a tool.
I'm the sole beneficiary of my late father’s estate and I have everything in my name alone, including the my former home in Keynsham. The Keynsham property was put into my name in November. I plan to dispose of the property. I do know about the Mortgage Lenders 6 month 'rule', which means that my proprietorship may be considered the same way as if I'd bought the house in November. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. many mortgage companies would take a practical view as this obligation is primarily there to identify subsales or the wholesaling and assigning of properties.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Keynsham solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Keynsham surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Principality have agreed my mortgage in principle, my offer on a apartment in Keynsham has been accepted, what happens next?
The estate agent will wish to be advised as to your conveyancing practitioner's details (ensure that the property lawyers are on the bank’s approved list). Contact Principality or the broker and complete any outstanding forms. Principality will instruct a valuer who will get in touch with the estate agent or seller to arrange an appointment. Once carried out (assuming no problems) it takes on average a fortnight to get a mortgage offer. Principality will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Keynsham.
We are close to exchanging contracts on the sale of our home in Keynsham and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A high street Keynsham lawyer would know this is not the case. For the life of me I don't know why the buyers used an internet conveyancing practice as opposed to a conveyancing solicitor in Keynsham. We have lived in Keynsham for six years we know that this is a non issue. Should we contact our local Authority to obtain confirmation need.
It sounds as though you may have a conveyancing firm currently acting for you. What do they say? You need to 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 illness)
The deeds to our property can not be found. The solicitors who did the conveyancing in Keynsham 5 years ago are no longer around. What do I do?
These day there are copies made of almost everything, and your conveyancer will be aware precisely where to look for all the appropriate paperwork so you may buy or dispose of your property without any difficulty. If duplicates are not available, your lawyer can arrange cover in the form of insurance or indemnities protecting you against future claims on your property.
How easy is it to switch solicitor as I have to select a firm on the Bank of Ireland conveyancing panel. I had appointed a high street conveyancing solicitor in Keynsham round the corner but she is not accepted by Bank of Ireland
We will our best to assist in finding you a conveyancing solicitor in Keynsham on the Bank of Ireland panel. Please note that the property lawyers that we on the directory do not pay us commission if you instruct them and are regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Keynsham. In making use of search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Keynsham.
I am tempted by the attractive purchase price for a couple of maisonettes in Keynsham which have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Keynsham is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most purchasers and lenders, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Keynsham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Keynsham - A selection of Questions you should ask before Purchasing
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Best to be warned if fixing the lift or some other significant cost is anticipated to be shared amongst the leaseholders and will dramatically increase the the service fees or result in a one off invoice. Does the lease have onerous restrictions? How is the lease structured?