We are a couple about to exchange contracts for a freehold house in Tavistock. We have hit a stumbling block. Our mortgage offer with Barnsley Building Society expires on 25/6/2024 but the vendors are putting forward a completion date of 27/6/2024. Is it possible to prolong the mortgage offer?
The person best placed to address this issue is your conveyancer who is in a position to assess if he or she is better off negotiating with the bank, seller’s representatives, selling agents or conceivably all parties given the circumstances your conveyancing as of today.
The Tavistock conveyancing solicitors that just started acting on my purchase in Tavistock have suddenly shut down. They were on acting for me because I needed a firm on the Skipton conveyancing panel and my previous Tavistock lawyer was not. I paid them £170 on account. What do I do now?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Skipton conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
Can you help - my lawyer says that missing deeds insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Tavistock?
The appropriate level of missing deeds indemnity insurance depends on who your lender is. It would differ for example between Lloyds TSB Bank and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Tavistock solicitor - who is on the Nottingham conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Tavistock surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Nottingham have agreed my home loan in principle, my offer on a apartment in Tavistock has been agreed to, what are the next steps?
Your estate agent will need to know who your solicitors are (ensure that the lawyers are on the bank’s panel). Contact Nottingham or your financial adviser and finish off any outstanding documentation. Nottingham will appoint a valuer who will get in contact with the selling agent or seller to arrange a time for the valuation to take place. Once carried out (assuming no problems) it takes about a week for the mortgage offer to be issued. Nottingham will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Tavistock.
I have recentlyfound out that Arc property Solicitors have been shut down. They conducted my conveyancing in Tavistock for a purchase of a leasehold apartment 12 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The quickest way to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Tavistock conveyancing specialists.
What is different about your site and other internet conveyancing brokers for conveyancing in Tavistock?
At this site obtain a fixed fee quote via a Solicitor or Licensed Conveyancer that has a full understanding of the nuances of your conveyancing in Tavistock. Unlike many estate agents and many comparison sites we do not have referral arrangements with solicitors. A large number of agents and online brokers 'recommend' the firm that pays the highest per referral, as opposed to the best value conveyancing in Tavistock
I have just started marketing my 2 bed apartment in Tavistock. Conveyancing has not commenced, but I have recently had a half-yearly service charge demand – should I leave it to the buyer to sort out?
It best that you clear the invoice as you normally would because all ground rent and maintenance charges should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am the registered owner of a studio flat in Tavistock, conveyancing formalities finalised August 2001. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Tavistock with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease expires on 21st October 2083
With only 59 years remaining on your lease we estimate the price of your lease extension to be between £20,900 and £24,200 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.