Our Calstock lawyer has uncovered a discrepancy between the assumptions in the home valuation survey and what is in the legal papers for the property. My lawyer has advised that he needs to check that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach correct?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
At what point does exchange of contracts take place for residential conveyancing in Calstock and am I required to be at the lawyers branch?
If you are in close proximity to one of the conveyancing solicitors in Calstock you are invited in to sign contracts. That being said, the law practices we work with offer countrywide coverage for conveyancing and provide as equally comprehensive and professional a job for you when communicating with you digitally. The executing of the contract is not the critical part. A signed contract simply enables the conveyancer to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Calstock)to be in the office at the appropriate time.
We are getting the release of further monies on our home loan from Coventry BS as we want to carry out renovations to our property in Calstock. Do we need to choose a local Calstock solicitor on the Coventry BS conveyancing panel to deal with the paperwork?
Coventry BS would not normally instruct a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS panel.
After months of negotiation I have agreed a price on a house in Calstock. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an upfront payment of £175. A few days later, the solicitor called me sheepishly admitting that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Calstock solicitor - who is on the Barclays conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays 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 Calstock 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.
I need to find a conveyancing solicitor for remortgage conveyancing in Calstock. I have stumble upon a site which looks to be the perfect offering If there is a chance to get all the legals done via phone that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I've recently bought a leasehold flat in Calstock. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a 1st floor flat in Calstock, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Calstock with a long lease are worth £211,000. The ground rent is £50 charged once a year. The lease runs out on 21st October 2092
With only 68 years unexpired the likely cost is going to range between £9,500 and £11,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
Our conveyancing in Calstock completes this Friday, yet the sellers I am purchasing off has asked to vacate on the Saturday PM. Should I accept such a plan?
It is not possible to complete on a Saturday due to the bank systems are not operating.