Recently been in touch with my conveyancing lawyer in Minehead who acted for me 18 months ago asking for a conveyancing quote based on the same type of house move (a leasehold premises and a freehold premises) of similar values with a home loan from Nationwide Building Society. I am now being quoted twice the amount. Better the devil I know or do I seek out an alternative firm of conveyancing solicitor?
The charges are a tad high. If you are happy to expend time scrutinising prices you could shave off some of the expense by say £100 plus VAT. That being said, providing that you were happy with the service the firm offered you couldcome to regret opting for an a cheaper conveyancer. Remember to be sure the firm can also act for Nationwide Building Society. Do employ our search tool to choose a Minehead conveyancing firm on the Nationwide Building Society member panel, which can often include conveyancing solicitors in Minehead.
The sellers of the home we are purchasing are using a conveyancing firm in Minehead who has insisted on a lock out agreement with a payment 6,000. Are such arrangements appropriate for Minehead conveyancing transactions?
There are a couple of main drawbacks with executing a lock out contract (also known as an exclusivity agreement) is that it can distract from moving forward with the conveyancing work, so in the absence of it needing little or no negotiation then it could turn out to be a cause of frustration and delay. It is not promoted amongst Minehead conveyancing solicitors as a result. The other main negative is the extent of the remedies available - a jilted purchaser is not likely to obtain an injunctive ruling by a court to prevent the seller completing the sale to an alternative purchaser, so the only remedy available under the contract will be the reimbursement of wasted charges and, in limited circumstances, the extra payment of damages.
My wife and I have organised a further advance on our home loan from Santander as we intend to conduct alterations to our property in Minehead. Do we need to select a bricks and mortar Minehead solicitor on the Santander conveyancing panel to handle the legals?
Santander would not normally instruct firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Santander conveyancing panel.
I recently had an offer agreed on a house in Minehead. My mortgage broker recommended their conveyancers. I paid an advanced payment of £175. A few days later, the lawyer contacted me embarrassingly acknowledging that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I've 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 Minehead solicitor - who is on the UBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS 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. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Minehead postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Minehead.
My partner and I are planning on selling our house in Minehead and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A high street Minehead lawyer would know that there is no such problem. It does beg the question why the buyers used a national conveyancing outfit rather than a conveyancing solicitor in Minehead. Having lived in Minehead for 4 years we know of no issue. Do we get in touch with our local Authority to get clarification need.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You should enquire of 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 health insurance to cover that same ailment)
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Minehead is where the house is located. Can you offer any assistance?
Flying freeholds in Minehead are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Minehead you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Minehead 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 property.
I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Minehead. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Minehead ?
The majority of houses in Minehead are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Minehead so you should seriously consider shopping around for a Minehead conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer should appraise you on the various issues.
Minehead Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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If a Minehead lease has no more than 80 years it will have adverse implications on the value of the flat. It is worth checking with your lender that they are happy with residual term of the lease. Leases with fewer than 80 years remaining means that you will probably have to extend the lease sooner rather than later and you need to have some idea of what this will be. For most Mineheadlease extensions you will need to own the premises for a couple of years before you are eligible to extend the lease. Does the lease have onerous restrictions? It would be prudent to discover as much as possible regarding the managing agents as they can either make your living at the property much simpler or uncomfortable. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical issues such as the tidiness of the common parts. Don't be afraid to ask prospective neighbours whether they are happy with their service. On a final note, investigate as to the dates that the maintenance fees are due to the relevant party and specifically what you get for your money.