My IFA has asked me for my Torpoint solicitor’s panel reference for the Nationwide conveyancing panel. Can you suggest how I find this out. I have tried my local Torpoint office but they have not responded to me.
You are best placed to get this information from your Torpoint lawyer . Most Torpoint law practices will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
The owners of the property we are purchasing have appointed a conveyancing firm in Torpoint who has insisted on a lock out contract with a non-refundable deposit of 5k. Is it wise to enter into such agreements?
Lock out contracts are agreements between a property owner and purchaser giving the buyer a ‘clear field’ to the sale of the premises for a limited period of time. Essentially, a lock out is a document specifying that you will have a contract at a later time being the contract for the actual sale. It is generally utilised for buyer protection though in some cases, the proprietor may stand to benefit from such agreements as well. There are various positives and negatives to using them but you need to check with your lawyer but beware that it may result in incurring more in conveyancing charges. In light of this these agreements are not popular when it comes to conveyancing in Torpoint.
I acquired my apartment on 7 April and my personal details is yet to be on the land registry website. Any reason for this? My conveyancing solicitor in Torpoint expressed confidence that it should be concluded in less than a month. Are properties in Torpoint particularly slow to register?
As far as conveyancing in Torpoint is concerned, registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether there are errors and if the Land registry must send notices to any 3rd persons or bodies. Currently in the region of 80% of such applications are fully addressed in less than three weeks but occasionally there can be extensive hold-ups. Historically registration occurs once the purchaser is living at the property thus post completion formalities is not always top priority yet if there is a degree of urgency associated with the registration then you or your lawyers can contact the land registry and explain the circumstances.
How does conveyancing in Torpoint differ for newly converted properties?
Most buyers of new build or newly converted property in Torpoint contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because developers in Torpoint usually purchase the real estate, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Torpoint or who has acted in the same development.
I opted to have a survey completed on a property in Torpoint prior to instructing lawyers. I have been advised that there is a flying freehold element to the property. My surveyor advised that some mortgage companies may refuse to issue a loan on such a property.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. If you contact us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Torpoint. Conveyancing may be slightly more expensive based on your lender's requirements.
What tools are available to search for a Torpoint conveyancing solicitor on the lender conveyancing panel? I have a car and am prepared to travel up to 20miles to meet the solicitor.
Feel free to make use of the find a conveyancing panel tool on this website. Please choose the lender and your location, in this case Torpoint and you will see a number of lawyer located nearest Torpoint. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the lender solicitor panel.