I am only a couple days away from an exchange on a flat in Fowey and my mum and dad have sent the exchange deposit to my conveyancing practitioner. I am now informed that as the deposit has not arrived from me my solicitor needs to disclose this to my lender. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the bank about my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The conveyancing practitioner is duty bound to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Are the Fowey conveyancing solicitors identified as being on the Lloyds conveyancing panel, together with their details provided by Lloyds?
Fowey conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.
Should our conveyancer be making enquiries concerning flooding as part of the conveyancing in Fowey.
Flooding is a growing risk for lawyers specialising in conveyancing in Fowey. There are those who acquire a house in Fowey, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, however there are a various searches that can be undertaken by the buyer or by their solicitors which should figure out the risks in Fowey. The standard completed inquiry forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual question of the vendor to find out if the premises has historically flooded. If the premises has been flooded in past which is not disclosed by the vendor, then a buyer could bring a claim for damages as a result of such an incorrect response. The purchaser’s solicitors will also commission an environmental search. This should disclose whether there is a recorded flood risk. If so, more detailed inquiries will need to be conducted.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The lawyers who conducted the conveyancing in Fowey 5 years ago have long since closed. Will I be able to sell the house?
Assuming you have a registered title the information relating to your ownership will be documented by HMLR with a Title Number. It is easy to execute a search at the Land Registry, find your house and get current copies of the Registered Entries for less than a fiver. Where the title is Leasehold then the Land Registry will also normally hold a file copy of the Registered Lease and again, a copy can be retrieved for twenty pounds.
Due to the guidance of my in-laws I had a survey completed on a house in Fowey ahead of appointing lawyers. I have been advised that there is a flying freehold element to the property. My surveyor has said that some mortgage companies tend not give a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. Should you wish to telephone us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Fowey. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Fowey to see if the conveyancing will be more expensive.
My wife and I purchased a leasehold house in Fowey. Conveyancing and Barclays Direct mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Fowey who acted for me is not around. Do I pay?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the new freeholder. You do not need to incur the fees of a Fowey conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Fowey Leasehold Conveyancing - A selection of Queries before Purchasing
What is the service charge and ground rent on the property? The answer will be helpful as a) areas can result in problems in the block as the communal areas may begin to deteriorate if maintenance remain unpaid b) if the tenants have an issue with the managing agents you will need to know about it What is the name of the managing agents?