Is the fact that my conveyancer in Lynton is not listed on my bank's conveyancing panel that there is a problem with the standard of her work?
That is more than likely a wrong assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Lynton conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to appoint their panel solicitor as I would much rather instruct a Lynton based conveyancing firm?
You should check but the chances are that allocate you one of their panel conveyancers if you take up the "fee-free" incentive. Speak to the bank and explore if they allow a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Lynton.
I have justfound out that Stirling Law have closed. They carried out my conveyancing in Lynton for a purchase of a leasehold flat 10 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?
The easiest way to see if the premises is registered to you, you can carry out 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 Lynton conveyancing specialists.
How does conveyancing in Lynton differ for new build properties?
Most buyers of new build or newly converted property in Lynton contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is completed. This is because house builders in Lynton usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Lynton or who has acted in the same development.
My wife and I purchased a leasehold flat in Lynton. Conveyancing and Yorkshire Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Lynton who previously acted has long since retired. Any advice?
First make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Lynton conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a basement flat in Lynton, conveyancing having been completed in 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? Equivalent properties in Lynton with a long lease are worth £202,000. The ground rent is £55 invoiced annually. The lease finishes on 21st October 2081
With 56 years remaining on your lease we estimate the premium for your lease extension to range between £29,500 and £34,000 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
What is the difference between surveying and conveyancing in Lynton?
Conveyancing - in Lynton or elsewhere - is the process of legally transferring legal title of property from one person to another. It involves the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re purchasing and will help you discover the condition of the building and, if there are problems, give you a powerful reason for negotiating the buying price down or asking the seller to remedy the problems before you move in.