Am I correct in assuming that the fact that my solicitor in Salcombe is not listed on my lender's conveyancing panel that there is a problem with the standard of her work?
That is most likely a wrong 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 most common reasons for removal are: (1) low volume of transactions (2) the lawyer 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 simply call the Salcombe conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
Is it the case that all Salcombe CQS (Conveyancing Quality Scheme) solicitors are on the Kent Reliance conveyancing panel?
Some major lenders now make use of CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
When it comes to lenders such as Barclays, do Salcombe conveyancers face a fee to be on the list of approved solicitors?
We are unaware of any mortgage company fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
After shopping around on the internet I have found a Salcombe solicitor having made sure that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS 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 Salcombe 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.
Do I need to pay for insurance to address the risk of chancel repairs when buying a property in Salcombe?
Unless a prior acquisition of the property took place post 12 October 2013 you could assume that lawyers conducting conveyancing in Salcombe to continue to advocate a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly identified during conveyancing in Salcombe?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Salcombe. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Do you have any top tips for leasehold conveyancing in Salcombe from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Salcombe can be avoided where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers’ lawyers. If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing. You believe that you know the number of years left on your lease but you should verify this via your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 75 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you are supposed to have a share in the Management Company, you should make sure that you hold the original share document. Arranging a duplicate share certificate is often a time consuming formality and delays many a Salcombe home move. If a duplicate share is needed, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.
Salcombe Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
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How long is the Lease? Plenty Salcombe leasehold properties will incur a service bill for maintenance of the building levied on behalf of the freeholder. Should you acquire the flat you will have to pay this amount, normally quarterly accross the year. This can vary from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent to be met annual, normally this is not a exorbitant figure, say around £50-£100 but you need to enquire it because on occasion it could be many hundreds of pounds. In the main the cost for major works are not included within maintenance charges, although there some managing agents in Salcombe require tenants to contribute towards a sinking fund and this is used to offset against major works.
My wife and I are first time buyers just having agreed a price on a property in Salcombe, and are now looking to get solicitors appointed. We have used the various rating based websites and the quotes are from all across the the UK. Is it necessary to have a Salcombe solicitor local to your prospective new home? We are willing to do all the communicating over the web, but I am thinking at some stage we may need to physically go into the conveyancing practitioner's office to sign documents?
Usually there is no need to physically visit the office of your lawyer, they can post any relevant contracts to you, which you can sign and return. Many home movers choose to instruct a locally based solicitor, but it is not a prerequisite for conveyancing in Salcombe.