The housing market in Bristol is heating up. What can I do to expedite matters?
In a situation where the seller is applying time constraints for your conveyancing it is advisable to make sure that your solicitor is familiar with the location as they will make use of local contacts and intelligence. It is even conceivable that they may have transacted previoushomes in the same street. Therefore consider using a Bristol conveyancing firm. Second, make sure that the lawyer is on the on the approved list for your mortgage company. It is believed that 18% of Bristol conveyancing transactions are suspended or derailed after finding out that a buyer’s solicitor was not on their banks panel. This can often result in the conveyancing being frustrated by almost 21 days. It is understood that this issue impacts in the region of one hundred thousand home moves every year. Most Bristol conveyancing firms can not represent certain banks so do check as early as possible.
This question may be naive but I am new to the home buying as FTB of a two bedroom flat in Bristol. Do I receive the keys to the premises on completion from my solicitor? If this is the case, I will find a local conveyancing solicitor in Bristol?
On the day of completion you do not need to attend the conveyancers office in Bristol. Your solicitors will arrange to send the purchase money to the seller's lawyers, and shortly after the monies have arrived, you will be called to pick up the keys from the property Agents and start moving into the property. Usually this occurs early afternoon.
I am due to move home in January. Will my conveyancing solicitor call the removal company on the completion day. On a separate note, can you recommend a removal company in Bristol. Conveyancing lawyer was organised before I stumbled across this site.
On the day of completion you will need to pick up the house keys from the property agent but this should only take place when the sellers conveyancers advise the agent that they acknowledge receipt of the completion payment and the keys can be collected. After that you should inform the removal men that you are ready to move in. As a matter of policy we do not suggest a specific removal organisation but can help you find a conveyancing in Bristol or a lawyer that specialises in conveyancing in Bristol.
How can we tell if a Bristol conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Bristol seeking recommendations is a good starting point. 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 which is cheap as chips. We would always advocate that you speak with the solicitor handling your transaction.
I am buying a new build apartment in Bristol. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Bristol
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants. Please confirm the Lease plans are architect prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Due to the advice of my in-laws I had a survey completed on a house in Bristol ahead of appointing lawyers. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some lenders may refuse to give a mortgage on this type of premises.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. If you contact us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bristol. Conveyancing may be slightly more expensive based on your lender's requirements.
Can you provide any advice for leasehold conveyancing in Bristol from the perspective of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Bristol can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the buyers’ representatives. If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Organising a re-issued share certificate can be a lengthy process and frustrates many a Bristol conveyancing transaction. Where a new share certificate is necessary, do contact the company officers or managing agents (if relevant) for this sooner rather than later. Some Bristol leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. Many landlords or Management Companies in Bristol charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Bristol.
I inherited a 1 bedroom flat in Bristol, conveyancing having been completed February 2011. Can you work out an approximate cost of a lease extension? Comparable properties in Bristol with over 90 years remaining are worth £179,000. The ground rent is £65 invoiced every year. The lease runs out on 21st October 2081
With 57 years left to run the likely cost is going to span between £26,600 and £30,800 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.