We are planning to buy a 3 bedroom apartment in Salcombe with a mortgage. We have a Salcombe solicitor, however the bank advise he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or keep our Salcombe conveyancing practitioner and pay for one of their panel ones to represent them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Salcombe conveyancing lawyer to apply to be on the conveyancing panel.
We see that you have a post code search directory identifying firms on the Virgin Money conveyancing panel. Do firms pay you a referral fee if I retain them for our own conveyancing in Salcombe?
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 Salcombe.
A colleague pointed out to me me that in buying a property in Salcombe there could be a number of restrictions prohibiting external changes to a property. Is this right?
We are aware of anumerous of properties in Salcombe which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Salcombe should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
is it true that all Salcombe conveyancing solicitors on the Barclays conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Barclays approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many mortgage companies do permit licenced conveyancers on their panel in which case such practice would be regulated by the Council of Licensed Conveyancers.
I am selling my flat. I had a double glazing fitted in May 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Skipton are being pedantic. The Salcombe solicitor who is on the Skipton conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Skipton are insisting on a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The conveyancers who handled the conveyancing in Salcombe 5 years ago have long since closed. What are my next steps?
In today’s world there are duplicates made of almost everything, and your conveyancer will know exactly where to find all the relevant documentation so you may buy or sell your property without any difficulty. If duplicates can’t be located, your solicitor can arrange cover in the form of insurance or indemnities protecting you against future claims on the premises.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Salcombe is where the house is located. Can you shed any light on this issue?
Flying freeholds in Salcombe are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Salcombe you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Salcombe may determine 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £450,000 maisonette in Salcombe in six days. The landlords agents has quoted £372 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Salcombe?
Salcombe conveyancing on leasehold flats often involves the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to do so. They may invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the invoice is technically not due. In reality one has little option but to pay whatever is requested of you if you want to sell the property.
I own a 1st floor flat in Salcombe, conveyancing formalities finalised July 1999. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Salcombe with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2094
With only 68 years left to run the likely cost is going to range between £9,500 and £11,000 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.