Why do I have to pay up front when it comes to conveyancing in Nether Stowey?

If you are buying a property in Nether Stowey your solicitor will request that you place them with monies to cover the the cost of the conveyancing searches. Generally this is requested to cover the fees of the conveyancing searches. When the deposit is payable against the purchase price then this should be needed shortly ahead of contracts are exchanged. The closing balance that is due will be payable a couple of days prior to the day of completion.

Are all Nether Stowey Conveyancing Quality Solicitors on the Yorkshire BS conveyancing panel?

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

Last month we had a mortgage agreed in principle with Bank of Ireland. Nether Stowey conveyancing lawyers are chosen. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?

There is no definitive answer here. Have Bank of Ireland completed the valuation? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.

I have today made my last payment due on my mortgage with Lloyds. I assume I don't need a Nether Stowey property lawyer on the Lloyds panel to discharge the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Lloyds has sent the Land Registry the discharge electronically, and
3. Lloyds has instructed the Land Registry to do so

Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Nether Stowey is the location of the property. Can you offer any advice?

Flying freeholds in Nether Stowey are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Nether Stowey you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Nether Stowey 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 property.

I was advised by a few selling agents in Nether Stowey to choose a solicitor using your seach tool. What’s the financial inducement for Estate Agents to promote your site ahead of alternative conveyancing organisations?

We don’t offer any commission for sending work to this site. We found it would be just too difficult to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.

Do you have any advice for leasehold conveyancing in Nether Stowey with the aim of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Nether Stowey can be avoided if you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the purchasers’ lawyers.
Many freeholders or managing agents in Nether Stowey levy fees for providing management packs for a leasehold home. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Nether Stowey. If you have had conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled. Some Nether Stowey leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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.

I bought a ground floor flat in Nether Stowey, conveyancing formalities finalised 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Nether Stowey with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease finishes on 21st October 2089

With only 65 years left to run the likely cost is going to be between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.