Our solicitor has discovered a a problem with the lease for the apartment we are buying in Babbacombe. The other side have put forward title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancer has advised that he must ensure that the bank is happy with this solution. Are we the client or is the mortgage company ?
Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the lender are the client. These conveyancing instructions have to be complied with.
In researching online forums for a high-quality lawyer in Babbacombe, many say that I should use a CQS assured solicitor. Can you explain what CQS is?
Babbacombe Conveyancing Quality Scheme solicitors have obtained certification by the law Society The Law Society created CQS to promote high standards in the home buying process. CQS helps home movers to identify practices that provide a quality residential conveyancing. Babbacombe is one of the many areas in England and Wales in which accredited firms are located. The scheme requires practices to undergo a strict assessment, compulsory training, self-certification, spot checks and annual reviews in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Building Societies Association.
We are buying a house in Babbacombe. I might seem paranoid but how we can trust a solicitor? On the day of competition we will need to send our life savings into their account. What is the protection 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.
I have paid off my mortgage with Coventry BS. I assume I don't need a Babbacombe conveyancing practitioner on the Coventry BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS 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 Coventry BS mortgage from the register. Coventry BS, 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:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
Completion of my remortgage has taken place for my property in Babbacombe. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I appreciate that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when buying a property in Babbacombe? or Apparently there is a law dating back centuries that means some homeowners living in a parish church boundary will be compelled to pay for repairs to the chancel within the church. Is this suitable for conveyancing in Babbacombe?
Unless a previous acquisition of the premises took place after 12 October 2013 you can take it that lawyers conducting conveyancing in Babbacombe to remain encouraging a chancel search and or chancel repair liability policy.
I am looking for a leasehold apartment up to £245,000 and found one near me in Babbacombe I like with open areas and station nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Babbacombe in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the shortness of the lease may be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I was pointed in your direction by a few selling agents in Babbacombe to select a solicitor on your site. Is there a financial incentive for Estate Agents to offer your services over alternative conveyancing organisations?
We don’t make any referral fee for directing people in our direction. We thought it would be too underhand to pay a commission as members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.