I am thinking of refinancing my apartment in Somerset, does my lawyer have to be on the HSBC Solicitor panel?
In theory, you could use a solicitor that is not on the HSBC conveyancing panel, but HSBC would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I am the sole beneficiary of my late father’s will and I have everything in my name now, including the my former home in Somerset. Conveyancing formalities meant that the Land Registry date was in May. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership could be regarded the same way as though I had purchased the property in May. Do I have to wait 6 months to sell?
The CML 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 might be affected by that. Most lenders would take a pragmatic view as this provision chiefly exists to pick up on subsales or the flipping of properties.
Can I be sure that the Somerset conveyancing solicitor on the TSB panel is any good?
When it comes to conveyancing in Somerset getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor handling your transaction.
We have agreed to purchase a house in Somerset. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Leeds Building Society be concerned?
As you are obtaining a mortgage with Leeds Building Society your lawyer must comply with the conveyancing requirements outlined in Part 2 of UK Finance Lenders’ Handbook for Leeds Building Society. The CML Handbook includes minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Leeds Building Society where a lease does not comply with these specifications. The specifications relate to the installation of panels on properties countrywide and is not restricted to Somerset.
Will our solicitor be raising enquiries concerning flooding during the conveyancing in Somerset.
Flooding is a growing risk for solicitors carrying out conveyancing in Somerset. Some people will acquire a house in Somerset, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, however there are a number of checks that can be undertaken by the buyer or on a buyer’s behalf which will figure out the risks in Somerset. The standard information supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a standard question of the seller to find out whether the property has suffered from flooding. If the property has been flooded in past which is not disclosed by the seller, then a buyer may bring a legal claim for losses stemming from an misleading reply. A purchaser’s lawyers will also carry out an environmental search. This should higlight if there is any known flood risk. If so, further investigations should be made.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Somerset is where the house is located. What do you suggest?
Flying freeholds in Somerset are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Somerset you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Somerset may determine 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 residence.
My cousin has encouraged me to instruct his conveyancing solicitors in Somerset. Should I use them?
Much as we are happy to recommend a Somerset conveyancing lawyer the best way to find a conveyancing solicitor is to have feedback from friends or family who have actually used the conveyancer that you are considering.
I am on look out for some leasehold conveyancing in Somerset. Before diving in I would like to find out the number of years remaining on the lease.
If the lease is registered - and almost all are in Somerset - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I purchased a split level flat in Somerset, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Somerset with a long lease are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease runs out on 21st October 2089
You have 63 years left to run we estimate the price of your lease extension to span between £16,200 and £18,600 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.