My wife and I are purchasing a brand new duplex in North Somerset and my conveyancer is advising me that she is duty bound to the bank to disclose incentives from the developer. I am nearing the developer’s deadline to sign contracts and I would rather not prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am the sole beneficiary of my late mum's will and I have everything in my name now, including the my former home in North Somerset. Conveyancing formalities meant that the Land Registry date was in August. I plan to dispose of the property. I do know about the CML 6 month 'rule', meaning my property ownership may be considered the same way as though I had purchased the property in August. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. How practical a view lenders take of it, depend on the lender as this requirement is principally there to identify subsales or the flipping of property.
Does a directory service exist listing Principality panel solicitors in North Somerset on the Building Society Association’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. Very few banks make their panel listings open the public over the internet. Where you are looking for a North Somerset solicitor on the Principality please use our tool.
My husband and I are at the point of viewing apartments in North Somerset and I am now considering a potential offer. Is it wise to have a conveyancing practitioner on ‘stand by’? I am planning to take a mortgage with UBS.
It would be wise to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. As you are getting a mortgage with UBS, make sure you remember to check that your lawyer is on the UBS conveyancing panel.
Have purchased a a semi-detached house in North Somerset , how long will it take for the Land Registry to deal with the formalities evidencing my title? My North Somerset conveyancing solicitor has been very slow, so I want to check that my name is registered.
There is nothing unique when it comes to conveyancing in North Somerset registration formalities. As opposed to being determined by geographic area, timeframes can differ depending on the party submitting the application, whether there are errors and if the Land registry communicate with any other persons or bodies. Currently in the region of 80% of submission are fully dealt with in less than three weeks but occasionally there can be protracted hold-ups. Historically registration is effected once the buyer is living at the property thus 'speed' is not usually primary concern yet where there is a degree of urgency associated with the registration then you or your solicitor must communicate with the Registry to express the reasoning for the application to be prioritised.
Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in North Somerset I like with amenity areas and station nearby, however it only has 49 years unexpired on the lease. There is not much else in North Somerset for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage the remaining unexpired lease term may be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
My business partner and I are hoping to lease a unit on the high street. Can you recommend solicitors offering fixed costs for commercial conveyancing in North Somerset for under £1,200?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in North Somerset, including the sale and purchase of businesses as well as simply property. Whether you are looking to purchase or sell a shop, pub, restaurant, office, retail premises or a complete business we will put you in touch with the right lawyer. Regarding the costs these will vary based on the structure and nuances of the proposed transaction. Let us have your details or telephone so as to enable us to provide you with a detailed commercial conveyancing quote.
We are 3 weeks into a leasehold purchase having been directed to a firm by the selling agent to perform conveyancing in North Somerset. I am am very disappointed with the quality of service. Can you help me find new lawyers?
A conveyancer would need to be very poor in order to consider replacing them. Has the loan offer been sent? If so you will need to inform them of the new contact details and ensure the mortgage documents are re-sent. Your new conveyancer should be on the mortgage company panel to avoid added charges and delays. So that should be your starting point. The find a solicitor tool can help you find a bank approved conveyancer for your conveyancing in North Somerset