Am I correct in assuming that the fact that my conveyancer in Newquay is not listed on my lender's conveyancing panel that there is a problem with the quality of her conveyancing?
That would most likely be an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters 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 Newquay conveyancing firm and ask them why they are no longer on the approved list for your lender.
How up to date is your database of Newquay solicitors on the Aldermore conveyancing panel? Do Aldermore send you an updated list?
Newquay conveyancing firms themselves provide us confirmation that they are on the Aldermore conveyancing panel as opposed to being supplied with a list from Aldermore directly.
My home in Newquay is up for sale and I have accepted an offer. Does my conveyancer need to be required to be on the Virgin Money conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Virgin Money conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Just had an offer accepted on a new build flat in Newquay. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Newquay
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants.
I am looking for a ground for flat up to £245,000 and found one near me in Newquay I like with open areas and railway links nearby, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Newquay for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage that many years may be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
Back In 2007, I bought a leasehold flat in Newquay. Conveyancing and Alliance & Leicester mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Newquay who previously acted has long since retired. Any advice?
First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. You do not need to incur the fees of a Newquay conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Newquay Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing
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How is the lease structured? Its a good idea to find out as much as you can regarding the company managing the building as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to daily matters such as the cleanliness of the communal areas. You should not be afraid to ask other people if they are happy with them. On a final note, find out the dates that you are obliged pay the maintenance charge to the relevant party and specifically how they are spending the funds. Does the lease contain onerous restrictions?