Are the Totnes conveyancing solicitors identified as being on the Santander conveyancing panel, together with their details provided by Santander?
Totnes conveyancing firms themselves provide us confirmation that they are on the Santander conveyancing panel as opposed to being supplied with a list from Santander directly.
I have a renovated Georgian property in Totnes. Conveyancing lawyer represented me and Barclays . I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Totnes and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing lawyer who conducted the work.
I am buying my first flat in Totnes with the aid of help to buy. The builders refused to move on the price so I negotiated £7000 of additionals instead. The property agent suggested that I not inform my solicitor about this side-deal as it would affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My company is intending to take an assignment of a lease of a shop on a shopping parade. Can you recommend lawyers offering fixed charges for commercial conveyancing in Totnes for below 1500k?
We can recommend firms who have well rounded knowledge of commercial conveyancing in Totnes, including the disposal and purchase of businesses as well as simply property. Whether you are looking to buy or lease a shop, pub, restaurant, office, retail premises or a complete business we can put you in touch with the right solicitor. As for the charges this will depend on the structure and heads of terms of the deal. Let us have your contact information or email so as to enable us to supply you with a detailed commercial conveyancing quote.
I am in need of some leasehold conveyancing in Totnes. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Totnes - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a studio flat in Totnes, conveyancing having been completed 8 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Totnes with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ceases on 21st October 2086
With only 60 years unexpired we estimate the price of your lease extension to span between £20,000 and £23,000 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.
My 20yr old son is just in the process of moving home, he had his mortgage in principle. When the seller agreed the offer on the apartment we contacted the bank to progress the mortgage application. We were shocked to learn that mortgage lenders do not accept all solicitor, they need to be on their approved list, is this correct?
Banks normally restrict either the type or the number of conveyancing firms on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Totnes solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.