It has come to my attention via my mortgage adviser that my Tavistock solicitor is not on the bank Solicitor panel. How can I be sure whether this is correct?
You need to contact your Tavistock conveyancer. It is reasonable to expect your lawyer to notify you what has happened. If they are not on the panel they may be able to suggest a Tavistock conveyancing firm that is on the conveyancing panel for your bank.
My husband and I have organised the release of further funds on our home loan from Principality as we intend to carry out improvements to our property in Tavistock. Do we need to choose a nearby Tavistock solicitor on the Principality conveyancing panel to deal with the paperwork?
Principality do not ordinarily require a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality conveyancing panel.
We have agreed to purchase a house in Tavistock. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Leeds Building Society be concerned?
As your lender is Leeds Building Society your lawyer must comply with the formal requirements outlined in Section two of UK Finance Lenders’ Handbook for Leeds Building Society. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and solicitors are required to report to Leeds Building Society where a lease fails to meet these provisions. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Tavistock.
We expect to receive a AIP from Skipton this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Skipton recommend any Tavistock solicitors on the Skipton conveyancing panel, or is it better to go independently?
You will need to appoint Tavistock solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.
Are there restrictive covenants that are commonly identified as part of conveyancing in Tavistock?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Tavistock. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the input of my in-laws I had a survey completed on a property in Tavistock before appointing lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies tend refuse to give a mortgage on a flying freehold home.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. Should you wish to telephone us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Tavistock. Conveyancing may be slightly more expensive based on your lender's requirements.
What makes a Tavistock lease defective?
There is nothing unique about leasehold conveyancing in Tavistock. All leases are drafted differently and drafting errors can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:
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Insurance obligations
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Leeds Building Society, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.
I invested in buying a 1 bedroom flat in Tavistock, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Tavistock with an extended lease are worth £179,000. The ground rent is £65 invoiced annually. The lease finishes on 21st October 2082
With just 57 years remaining on your lease the likely cost is going to range between £26,600 and £30,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
What type of premises does your Tavistock conveyancing quotes apply to?
The quotes issued are only applicable to standard domestic premises in England & Wales. Where you have any different needs for example industrial or agricultural property or commercial conveyancing in Tavistock please telephone us to address this further .