Why is leasehold purchase conveyancing in Somerset is more expensive?
Somerset leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I am the sole recipient of my late mum's estate and I have everything in my name alone, including the house in Somerset. Conveyancing formalities meant that the Land Registry date was in December. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership could be treated the same way as though I had purchased the house in December. Is the property unsalable for six months?
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 may be affected by that. How sensible a view mortgage companies take of it, depend on the lender as this obligation is principally there to capture the purchase and immediately sell or the flipping of property.
When it comes to lenders such as UBS, do Somerset conveyancers have to pay a yearly amount to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I am due to exchange contracts on my flat. I had a double glazing fitted in March 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nottingham are being a right pain. The Somerset solicitor who is on the Nottingham conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Nottingham are requiring a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I used Action Conveyancing several years past for my conveyancing in Somerset. Now, I need the documents however the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Somerset of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm buying a new build house in Somerset with a mortgage from Barclays Direct. The developers would not reduce the price so I negotiated 6k of extras instead. The property agent told me not to tell my conveyancer about the deal as it will put at risk my loan with Barclays Direct. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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 am using a search engine for the term conveyancing in Somerset it brings up many solicitorsin the area. How do I determine which is the right conveyancing solicitor for my move?
The preferential way of seeking a suitable conveyancer is through a trusted referral, so enquire of friends and those you trust who have acquired a property in Somerset or the local estate agent or financial adviser. Fees for conveyancing in Somerset vary, so it's advisable to request a minimum of four fee estimates from different solicitors. Make sure that you clarify what costs in the quote includes.
For various reasons I cannot visit my Somerset conveyancing lawyers office to execute documents connected to my conveyancing in Somerset – is this a problem?
No. Somerset conveyancing solicitors can deal with home moves for clients wider afield. You are unlikely to be required to meet your lawyer in the flesh at a Somerset conveyancers office. Almost all lawyer can deal with everything remotely from their Somerset office.