Do all mortgage companies provide you with an approved list of Looe conveyancing solicitors? How do you know who is on the Virgin Money conveyancing panel?
Looe conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
I happen to be the only recipient of my late father’s estate and I have everything in my name alone, including the house in Looe. The Looe property was put into my name in May. I plan to dispose of the house. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship may be considered the same way as though I had purchased the property in May. Is the property unsalable for six months?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How sensible a view mortgage companies take of it, depend on the bank as this clause chiefly exists to capture subsales or the quick reselling of property.
Intending to buy a flat in Looe. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the TSB conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Looe lawyer is on the TSB conveyancing panel.
I have instructed a Looe property lawyer having made sure that they are on the Bank of Ireland conveyancing panel. Does my lawyer arrange the survey of the property?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Looe postcode. As you are getting a mortgage with Bank of Ireland, you could contact them to see if they have a list of approved surveyors in Looe.
Should our solicitor be raising enquiries concerning flooding during the conveyancing in Looe.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Looe. Plenty of people will acquire a house in Looe, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to offer advice on flood risk, but there are a numerous checks that can be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Looe. The standard completed inquiry forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the owner to determine if the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the owner, then a buyer could commence a claim for damages as a result of such an inaccurate reply. A purchaser’s lawyers will also order an enviro report. This will higlight whether there is any known flood risk. If so, additional inquiries should be initiated.
My wife and I purchased a renovated Georgian property in Looe. Conveyancing lawyer represented me and Halifax. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold under the exact same address. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Looe and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with the conveyancing practitioner who completed the work.
Due to the advice of my in-laws I had a survey completed on a house in Looe prior to instructing lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some lenders may not grant a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Looe. Conveyancing will be smoother if you use a solicitor in Looe especially if they are acquainted with such properties in Looe.
I need to retain a conveyancing solicitor for leasehold conveyancing in Looe. I happened to chance upon a web site which seems to have the perfect offering If there is a chance to get all the legals completed via phone that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?