My wife and I are approaching an exchange on a house in Port Isaac and my parents have sent the exchange deposit to my lawyer. I am now advised that as the deposit has been sent from someone other than me my conveyancer needs to make a notification to my lender. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I advised the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your solicitor is obliged to check with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Me and my partner are purchasing a apartment in Port Isaac. I might seem paranoid but how we can trust a conveyancer? On the day of competition we will need to send our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We are getting a further advance on our home loan from Bank of Ireland as we intend to carry out improvements to our property in Port Isaac. Do we need to choose a local Port Isaac solicitor on the Bank of Ireland conveyancing panel to deal with the paperwork?
Bank of Ireland would not normally require firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Bank of Ireland conveyancing panel.
Our sealed bid on a house in Port Isaac has been agreed to, but there is a chain. The owners have put an offer on a property, however it’s not yet agreed to, and are looking at other properties in the pipeline. I have selected a nearby conveyancing solicitor in Port Isaac. What do I do now? When should I get the mortgage application with RBS started?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of £1k, then valuation, Port Isaac conveyancing search costs, etc). The first thing to do is ensure that your conveyancing practitioner is on the RBS conveyancing panel. Concerning the next steps this very much depends on the circumstances of your case, attraction to the property and on the state of the market. During a buoyant market the majority of purchasers will apply for a home loan with RBS and arrange for the valuation and only if it was satisfactory would they ask their conveyancing practitioner to press on with the conveyancing in Port Isaac.
I have recentlybeen informed that Arc property Solicitors have been shut down. They conducted my conveyancing in Port Isaac for a purchase of a leasehold apartment 10 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The quickest method to check if the property is in your name, 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 Port Isaac conveyancing specialists.
What does commercial conveyancing in Port Isaac cover?
Commercial conveyancing in Port Isaac incorporates a broad array of advice, supplied by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
Expecting to complete next month on a leasehold property in Port Isaac. Conveyancing solicitors assured me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Port Isaac should include some of the following:
Repair and maintenance of the flat Information concerning the obligations as set out in the lease to to contribute towards maintenance costs - in relation to the building, and the more general rights a lessee has What remedies are open the freeholder should you breach a clause of your lease? It needs to be made clear to you if the lease allows you to change or upgrade aspects of the premises- you should know whether any restrictions relates to all alterations or just structural alteration, and whether licences for alterations is required Your solicitors should enable you to have an understanding of the building insurance requirements
I purchased a leasehold flat in Port Isaac, conveyancing formalities finalised 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Port Isaac with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2099
With 75 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
Are the Port Isaac conveyancing lawyers identified as being on the bank conveyancing panel, together with their details provided by the lender?
Port Isaac law firm practices and firms carrying out conveyancing in Port Isaac themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the mortgage company directly.