Is there a reason why leasehold purchase conveyancing in Torrington is more expensive?
Torrington 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 have a decision in principle. The bank mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel conveyancer as I would much rather use a Torrington based conveyancing firm?
You should check but the chances are that allocate you one of their panel solicitors if you want the "fee-free" incentive. Contact the mortgage company and ask if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor in Torrington.
Completion of my purchase has taken place for my property in Torrington. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are resolved very quickly. 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.
After months of negotiation I have agreed a price on a house in Torrington. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an advanced payment of £200. A couple of days later, the property lawyer contacted me sheepishly admitting that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am selling my house. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Nationwide are being a right pain. The Torrington solicitor who is on the Nationwide conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide 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 am purchasing a house and the lawyer has raised the issue of Chancel Repair for which the property could be liable given it’s proximity to the area of such a church. She has suggested insurance. Is this really required for conveyancing in Torrington
Unless a prior purchase of the premises took place after 12 October 2013 you can assume that lawyers conducting conveyancing in Torrington to continue to recommend a chancel search and or chancel repair liability insurance.
My husband and I are FTB’s - had an offer accepted, yet the property agent advised that the owners will only go ahead if we use their preferred lawyers as they are insisting on an ‘expedited deal’. We would rather use a local solicitor who is accustomed to conveyancing in Torrington
We suspect that the seller is not behind this ultimatum. Should the owner require ‘a quick sale', alienating a serious purchaser is counter productive. Bypass the agents and go straight to the sellers and make the point that (a)you are genuine buyers (b)you are ready to go, with finances in place © you are unencumbered (d) you wish to move quickly (e)but you intend to appoint your own,trusted Torrington conveyancing solicitors - rather thanthe ones that will provide the estate agent a commission or hit his conveyancing targets set by HQ.
I am attracted to a couple of apartments in Torrington which have in the region of fifty years remaining on the lease term. should I be concerned?
There are plenty of short leases in Torrington. The lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena.
Leasehold Conveyancing in Torrington - Sample of Queries Prior to Purchasing
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Is there a share of the freehold? Who manages the building? The answer will be useful as a) areas can result in problems for the block as the common areas may begin to deteriorate where services remain unpaid b) if the leasehold owners have an issue with the running of the building you will need to have complete disclosure