My husband and I are looking to purchase a home in Keynsham and have instructed a Keynsham conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Accord Mortgages Ltd have this morning contacted us to inform me that they have now hit a problem as our Keynsham solicitor is not on their conveyancing panel. Please explain?
Where you are buying a property needing a mortgage it is conventional for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Keynsham lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Please could you vouch for a The Mortgage Works allowed Keynsham conveyancing firm who can have us moved in within under 3 weeks? Would it be better to use a local Keynsham solicitor or a national comparison site?
We can recommend some very good Keynsham conveyancing firms. You can also walk up the main road in Keynsham. Approach two or three law practices and ask to speak with a conveyancing solicitor for a fee estimate. Discuss your expectations together with the reasons and ask for a commitment on speed. Appoint the one that genuine.
About to purchase a new build flat in Keynsham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Keynsham
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I am looking for a flat up to £235,500 and identified one close by in Keynsham I like with open areas and transport links in the vicinity, however it only has 61 years on the lease. There is not much else in Keynsham for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage that many years may be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
Is it best to appoint a Keynsham conveyancing practitioner who is local to the property I am hoping to buy? We have a good friend who can conduct the legal work but her office is approximately 350miles away.
The benefit of a high street Keynsham conveyancing practice is that you can pop in to execute paperwork, present your identification documents and pester them where appropriate. They will also have local insight which is a plus. However it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and they were happy that should trump using an unfamiliar Keynsham conveyancing lawyer solely due to them being based in the area.
I have just appointed agents to market my garden flat in Keynsham. Conveyancing is yet to be initiated, but I have just received a quarterly service charge demand – should I leave it to the buyer to sort out?
It best that you clear the service charge as normal as all ground rent and maintenance payments should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Keynsham Leasehold Conveyancing - Examples of Questions you should consider before buying
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How is the lease structured? How much is the ground rent and service charge?