It is 10 years ago since I acquired my house in Portishead. Conveyancing solicitors have recently been instructed on the sale but I am unable to find my deeds. Is this a problem?
You need not be too concerned. Firstly there is a chance that the deeds will be with the lender or they may be archived with the conveyancers who acted in your purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. Nearly all conveyancing in Portishead involves registered property but in the rare situation where your home is unregistered it adds to the complexity but is not insurmountable.
It is not clear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Portishead bank branch on a couple of occasions and was informed it wasn't an issue and they would lend. My Portishead conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their published requirements. I have no idea who is right.
Your solicitor has to comply with the CML Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
After much negotiation I have agreed a price on an apartment in Portishead. My financial adviser recommended their conveyancers. I paid an advanced payment of £175. A few days later, the property lawyer called me to say that they were not on the Skipton 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 Skipton 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 was told two weeks ago that my mortgage has been agreed to by Aldermore. Is it usual for Aldermore to only issue the offer once my solicitor in Portishead is approved on their conveyancing panel? Aldermore have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will commercial conveyancing searches reveal proposed roadworks that could impact a commercial site in Portishead?
Many commercial conveyancing solicitors in Portishead will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Portishead. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Portishead.
For each commercial conveyancing transaction in Portishead it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can cause delays to Portishead commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Portishead.
I'm purchasing my first flat in Portishead with the aid of help to buy. The sellers refused to budge the price so I negotiated £7000 of extras instead. The house builders rep told me not to tell my conveyancer about this side-deal as it would jeopardize my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 existing property to a buy to let loan with Norwich and Peterborough Building Society and intend to use the remaining equity as a deposit on further house. The location we are interested in is Portishead. Will your conveyancers be able to act for the two mortgage companies and link together the two deals?
Do use our search tool on this page to be sure that the lawyers are approved by both banks. On the basis that they are your lawyer should be able to tie up the two transactions but you should talk with you lawyer and make apparent your desired outcome and needs.
I've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Portishead. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
The majority of houses in Portishead are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Portishead so you should seriously consider looking for a Portishead conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should advise you fully on all the issues.
Portishead Leasehold Conveyancing - A selection of Queries before Purchasing
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Generally speaking the cost for major works are not included within maintenance charges, albeit that a few managing agents in Portishead obliged leaseholders to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance. Are there any major works anticipated that will likely increase the maintenance charges? It is important to be aware if changing the roof or some other major work is pending to be shared between the leaseholders and may well materially impact the level of the service fees or result in a one off payment.