Can you explain why leasehold purchase conveyancing in Bishopsworth costs more?
The conveyancing costs for a leasehold property in Bishopsworth is inevitably higher than on a freehold acquisition or disposal. This is due to the extra investigations necessary in dealing with the landlord and management company to collate the evidence concerning whether the rent and maintenance fee have been cleared and whether there are any significant expenditure in the near future on repairs or maintenance of the block.
I am considering applying for a Virgin Money mortgage for purchase of a newly converted (under development) in Bishopsworth with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?
In theory, you could use a solicitor that is not on the Virgin Money conveyancing panel, but Virgin Money 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.
My wife and I are buying a flat in Bishopsworth. I might seem paranoid but how we can trust a conveyancer? At some point we have to send our life savings into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Does a directory service exist listing UBS panel conveyancers in Bishopsworth on the Council of Mortgage Lender’s Website?
No. There is no such facility on the CML or Building Society Association sites. Very few mortgage companies make their panel listings visible online. Where you are looking for a Bishopsworth conveyancing practitioner on the UBS please use our facility.
Is it the case that all Bishopsworth solicitor firms on the Skipton conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Skipton conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do list licenced conveyancers on their panel and in that case the practice would be overseen by the Council of Licensed Conveyancers.
I have a renovated Edwardian property in Bishopsworth. Conveyancing practitioner acted for me and Santander. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bishopsworth and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing solicitor who conducted the work.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Bishopsworth is the location of the property. Can you offer any assistance?
Flying freeholds in Bishopsworth are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bishopsworth you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bishopsworth may ascertain 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.