Unfortunately I am unable to travel far from Bovey Tracey. Is there a reason why all Bovey Tracey property lawyers aren't automatically on all mortgage company panels?
Pre- 2008 most banks demonstrated an attitude to risk which is different than today. The financial regulator in 2010 conducted a thematic review into property fraud which concluded: know the lawyers on your panel. Consequently, mortgage companies have since looked to extract more information from law firms regarding their processes and the staff who work for them and set certain criteria such as completing a minimum volume of transactions. Hundreds of law practices have found themselves removed from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms found it impossible satisfy the minimum amount of transactions the mortgage companies set.
I am under pressure from the seller of a property in Bovey Tracey to complete within four weeks. What can I do to speed up matters?
In the event that the seller is applying a tight deadline to sign contracts we would recommend that your conveyancer is familiar with the location as they will make use of local connections and insight. It is even conceivable that they would have conducted otherproperties in the same road. You would be best advised to use a Bovey Tracey conveyancing lawyer. In addition, check that the lawyer is on the on the approved list for your mortgage company. It is claimed that just under twenty per cent of Bovey Tracey conveyancing deals are frustrated or jeopardised after discovering a buyer’s solicitor was not on their banks member panel. In many cases this discovery resulted in the conveyancing being held up by an average of three weeks. It is believed that this issue impacts approximately one hundred thousand home sales annually. Almost all Bovey Tracey conveyancing practices can not act for certain mortgage companies so do check at the outset.
It is 10 years ago since I purchased my house in Bovey Tracey. Conveyancing solicitors have just been instructed on the sale but I can't find my title deeds. Is this a major issue?
You need not be too concerned. Firstly there is a chance that the deeds will be retained by your lender or they may be in the possession of the solicitor who handled your purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring current official copies of the land registers. Most conveyancing in Bovey Tracey involves registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
The deeds to my home are lost. The conveyancers who handled the conveyancing in Bovey Tracey 5 years ago no longer exist. What are my options?
You no longer need to hold title official documentation to prove you are the owner of your registered land or premises, given that the Land Registry have everything they need in a digital format.
In what way does the Landlord & Tenant Act 1954 affect my commercial offices in Bovey Tracey and how can you help?
The particular law that you refer to affords a safeguard to business lessees, giving them the legal entitlement to apply to court for a new lease and remain in occupation when the lease reaches an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Bovey Tracey is one of our many areas of the UK in which the firms we work with have offices
Why do I have to provide my property lawyer with various items of ID before I can commence with my conveyancing in Bovey Tracey?
Bovey Tracey solicitors are obliged by the Law Society, Solicitors Regulation Authority, HMLR and current AML Regulations to record that the have verified the identity of their clients. It will also be a requirement of your mortgage offer. In addition they have to complete various forms, particularly those relating to SDLT and need to have information such as your full names, NI number and DOB.