Finally the sale completed on my house in Tiverton last November but our buyer keeps SMS messaging daily complaining that her conveyancer needs to hear from mine. What are the post completion sale formalities following completion?
After completion of your disposal your solicitor should forward the transfer deeds and all of the paperwork to the purchaser's lawyers. Depending on the transaction, your solicitor must also confirm that the home loan has been paid off to the buyers lawyers. There is unlikely to be post completion procedures just for conveyancing in Tiverton.
I am buying a property and require a conveyancing solicitor in Tiverton who is on the Platform Home Loans Ltd approved. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Platform Home Loans Ltd in certain locations such as Tiverton. We dont recommend any particular firm.
Is it correct that all Tiverton CQS (Conveyancing Quality Scheme) solicitors are on the Lloyds conveyancing panel?
It is true that some lenders now make use of CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
I am purchasing a property in Tiverton. An unusual aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Virgin Money your lawyer must check the formal instructions contained in Part two of UK Finance Lenders’ Handbook for Virgin Money. The CML Handbook includes minimum provisions for solar panel roof-space leases, and solicitors are required to report to Virgin Money where a lease does not satisfy these provisions. The requirements relate to the installation of panels on properties countrywide and is not isolated to Tiverton.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Tiverton bank branch on a couple of occasions and was informed it wasn't an issue and they will lend. My Tiverton conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they would not lend based on their specific requirements. I simply don't know who is right.
The conveyancing practitioner must follow the Council of Mortgage Lenders’ Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Tiverton is where the house is located. What do you suggest?
Flying freeholds in Tiverton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Tiverton you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tiverton 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 property.
Am I better off to appoint a Tiverton conveyancing solicitor in close proximity to the house I am hoping to buy? I have an old university friend who can perform the conveyancing however her office is over three hundred miles drive away.
The primary upside of using a local Tiverton conveyancing firm is that you can visit the firm to execute documents, hand in your identification documents and pester them if necessary. Having local Tiverton know how is a benefit. That being said it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and they were impressed that must trump using an unknown Tiverton conveyancing lawyer just because they are local.
We have been informed by many family members that it can take six to eight weeks for Tiverton conveyancing to complete.This was four weeks ago. The paperwork was only received from the vendors conveyancer yesterday so does the clock start running now?
You should be pragmatic about timescales. Property transactions in Tiverton takes on average about two months. This timeframe is not due to property lawyer being slow and deliberately delay matters. The level of money involved in purchasing any residence is so high, the buyer’s property lawyer needing to carry out a wide range of enquiries, searches and further checks to protect the purchaser and their mortgage company (if there is to be a mortgage) from expensive, avoidable problems. Conveyancing in Tiverton involves getting information from a range of third parties, for example other solicitor, local councils, private companies, mortgage companies. Many of these are efficient. Plenty are not. Finally, no matter how quickly your lawyer do their work, if the people you are purchasing from or are selling to aren't ready, nothing can move forward until they are.