I am expecting a mortgage offer from Halifax. My intention is to use a Licensed Conveyancer in Torquay. Does the Halifax Solicitor panel exclude Licensed Conveyancers?
The Halifax conveyancing panel is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
Can you explain why leasehold purchase conveyancing in Torquay is more expensive?
Torquay leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Me and my partner are purchasing a apartment in Torquay. I might seem paranoid but how we can trust a solicitor? At some point we will need to put our life savings into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My conveyancer has informed me that flying freehold insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Torquay?
The right level of flying freehold indemnity insurance should be dictated by who your lender. It would differ for example between Nationwide Building Society and Barnsley Building Society. Conveyancing practitioners as opposed to members of the public take out such insurances.
I happen to be the only beneficiary of my late father’s will and I have everything in my name now, including the my former home in Torquay. The Torquay property was put into my name in October. I plan to dispose of the house. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership will be regarded the same way as if I'd bought the house in October. Do I have to wait 6 months to sell?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How sensible a view mortgage companies take of it, depend on the bank as this obligation chiefly exists to capture subsales or the flipping of property.
It has been four months since my purchase conveyancing in Torquay took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey carried out on a house in Torquay prior to appointing conveyancers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some banks tend not issue a loan on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. If you call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Torquay. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Torquay to see if the conveyancing costs will increase in light of this.
I have been told by many friends to expect 6-8 weeks for Torquay conveyancing to complete.This was a month ago. The paperwork was only sent from the vendors lawyer yesterday so now does it countdown?
You should not bank on moving on a certain date until exchange of contracts takes place. Whatever assurances the people you are buying from or selling to make, or your lender makes don't count on them. More frustration is caused to home movers by unfulfilled assurances than anything else.