My husband and I are looking to acquire a house in Calstock and are in fact using a Calstock conveyancing practice. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Platform Home Loans Ltd have this morning contacted us to inform me that they have now hit a problem as our Calstock lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Calstock solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
We were just about to exchange contracts for a semi detached house in Calstock. We encountered a problem. The mortgage offer with Virgin Money runs out on 30/7/2025 but the vendors are putting forward a completion date of 1/8/2025. Can one prolong the mortgage offer?
The person best placed to address this question is your lawyer who will hopefully assess if they corresponding with the mortgage broker, owner’s solicitors, property agents or indeed all parties given what has happend in your conveyancing to date.
I require quick conveyancing in Calstock as I have an ultimatum to complete within one month. A mortgage is not required. Can I avoid the conveyancing searches to save money and time?
As you are not getting a mortgage you are at liberty not to do searches although no lawyer would suggest that you don't. With plenty of history conveyancing in Calstock the following are instances of what can arise and therefore impact future saleability: Refused Planning Applications, Outstanding Fees, Overdue Grants, Road Schemes,...
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Calstock is where the house is located. Is there any advice you can impart?
Flying freeholds in Calstock are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Calstock you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Calstock may decide 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 premises.
I was pointed in your direction by a few property agents in Calstock to locate a conveyancer using your seach tool. Is there a financial inducement for Estate Agents to recommend your lawyers over alternative conveyancing organisations?
We don’t give any financial incentive for sending work to this site. We found it would be just too difficult to pay a commission as a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
Due to sign contracts shortly on a garden flat in Calstock. Conveyancing lawyers assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Calstock should include some of the following:
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Specifying your rights in relation to the communal areas in the building.E.G., does the lease grant a right of way over an accessway or staircase? Additions to the premises What you can do if another leaseholder in the building is in violation of a provision in their lease? specifics of the parties to the lease, e.g. these could be the leaseholder, head lessor, freeholder Do you need to have carpet in the flat or are you allowed wood flooring?
Calstock Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
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How many years remain on the lease? Please tell me if there are any major works in the near future that will add a premium to the service charges?