We see that you have a post code search directory identifying firms on the Virgin Money conveyancing panel. Do companies pay you a commission if I retain them for our conveyancing in Martock?
We are a listing service only for law firms wishing to communicate if they are on the Virgin Money conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Martock.
We had chosen solicitors with offices in Martock on the Clydesdale solicitor approved list. They have just invoiced me a further charge for dealing with the Clydesdale mortgage. Is this a supplemental conveyancing fee specified by Clydesdale?
Provided it is contained in their Terms of Engagement or estimate then yes your property lawyer may charge a fee for this. This charge is not set by Clydesdale but by your Martock lawyer. Plenty of firms on the Clydesdale panel will quote an ‘acting for lender’ fee and others do not.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Martock conveyancer on the Leeds Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society 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 Leeds Building Society mortgage from the register. Leeds Building Society, 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 Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
Planning on purchasing a apartment in Martock. 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 Leeds Building Society 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 Martock property lawyer is on the Leeds Building Society conveyancing panel.
How does conveyancing in Martock differ for newly converted properties?
Most buyers of new build premises in Martock come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Martock usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Martock or who has acted in the same development.
I have been on the look out for a flat up to £245,000 and found one round the corner in Martock I like with open areas and railway links in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in Martock suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage that many years will likely be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
My uncle has suggested that I use his conveyancing solicitors in Martock. Do I take his guidance?
No doubt it’s preferable to find a conveyancing solicitor is to get feedback from friends or relatives who have experience in using the firm you're are thinking of instructing.
Why do I have to send my solicitor with numerous items of ID ahead of starting selling or purchasing a property in Martock?
Martock solicitors are duty bound by the Law Society, SRA, HM Land Registry and current Money Laundering Regulations to certify that the have verified the identity of their clients. It is also sometimes a requirement of your bank if you are obtaining a mortgage. Furthermore they have to complete various forms, particularly those relating to SDLT and need to have details such as your full names, national insurance number and date of birth.