I am not well enough to travel far from Bournemouth. I would like to know the reason why all Bournemouth conveyancing practitioners are not on all bank panels?

Lenders tend to impose restrictions on either the type or volume of conveyancing firms on their approved list of lawyers. A common example of such criteria being that the firm needs to have two or more partners. In addition to restricting the nature of firm, some banks made a decision to reduce the number of organisations they permit to represent them. You should note that mortgage companies have no accountability for the accuracy of service provided by any Bournemouth conveyancer on their panel. Increases in mortgage fraud was a key driver in the culling of solicitor panels in the last decade notwithstanding that there are contrary thoughts about whether solicitors sat at the center of that fraud. Data published by HM Land Registry reveal that thousands of law organisations only carry out a couple of conveyances a year. Those supporting conveyancing panel pruning ask why law firms should have claim to remain on a conveyancing panel when it is evident that property law is not their speciality?

I purchased a freehold premises in Bournemouth but still invoiced for rent, why is this and what is this?

It is rare for properties in Bournemouth and has limited impact for conveyancing in Bournemouth but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.

Is it correct that all Bournemouth CQS (Conveyancing Quality Scheme) solicitors are on the Kent Reliance conveyancing panel?

Some major banks and building societies now make use of CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.

Completion of my remortgage has taken place for my property in Bournemouth. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?

Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.

TSB have agreed my mortgage in principle, my bid on a flat in Bournemouth has been agreed to, what happens next?

The property agent will wish to be informed of your conveyancer's details (be sure the conveyancing practitioners are on the bank’s approved list). Contact TSB or your financial adviser and finalise any outstanding documentation. TSB will appoint a valuer who will get in touch with the selling agent or owners to book an appointment. Once carried out (assuming no problems) it takes on average a week to get a mortgage offer. TSB will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Bournemouth.

We are intent on selling our home in Bournemouth and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any high street Bournemouth lawyer would know that there is no such problem. It does beg the question why the buyers are using a web based conveyancing firm rather than a conveyancing solicitor in Bournemouth. We have lived in Bournemouth for 4 years we know that this is a non issue. Should we get in touch with our local Authority to get confirmation that the buyers are looking for.

It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)

I am a negotiator for a busy estate agent office in Bournemouth where we have experienced a number of leasehold sales put at risk as a result of short leases. I have received contradictory information from local Bournemouth conveyancing solicitors. Could you confirm whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Bournemouth Leasehold Conveyancing - Sample of Queries Prior to Purchasing

It would be sensible to find out as much as you can about the company managing the block as they can either make life much easier or uncomfortable. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to daily matters like the cleanliness of the communal areas. Ask prospective neighbours what they think of their management. On a final note, be sure you understand the dates that the maintenance fees are due to the managing agents and specifically how they are spending that money. Generally speaking the cost for major works tend not to be wrapped into the maintenance charges, although some managing agents in Bournemouth require leaseholders to pay into a reserve fund and this is used to offset against larger repairs or maintenance. Please note that where the lease has less than eighty years it will have adverse implications on the marketability of the property. Check with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth finding out how much this will be. Remember, in most cases you would be required to have been the owner of the residence for a couple of years in order to be legally able to extend the lease.