We are about to exchange buying a property in Salcombe but as a result of damage from the recent storms I have managed to agree recompense from the seller of £2k in the form of a reduction in the price. This was going to be addressed as part of amending the contract however Lloyds will not permit this. Should they have been informed?
Your property lawyer being on a Lloyds conveyancing panel is duty bound to disclose to Lloyds of any amendments to the purchase price. If you were to refuse your property lawyer to report the price change to Lloyds then they would have to discontinue acting for you. In addition, Lloyds and you would have to appoint a new lawyer for your conveyancing in Salcombe.
I own a freehold property in Salcombe but still pay rent, why is this and what is this?
It is rare for properties in Salcombe and has limited impact for conveyancing in Salcombe but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I am selling my apartment in Salcombe. Will the lawyer have 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 specifications fairly frequently in recent years.
We previously appointed conveyancing lawyers with offices in Salcombe on the Aldermore solicitor approved list. They have just billed me a separate sum for dealing with the Aldermore mortgage. Is this an additional conveyancing fee set by Aldermore?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your conveyancer may charge a fee for this. The fee is not set by Aldermore but by your Salcombe conveyancing practitioner. Plenty of firms on the Aldermore panel will charge ’dealing with mortgage’ fee but many firms incorporate it on their overall fee.
The formalities of my remortgage has taken place for my property in Salcombe. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I had an offer accepted on a property in Salcombe on 28/4/2022, valuation was booked 4 days later, all came back fine. Property lawyer instructed, so all that was missing was my mortgage offer. Having made daily calls to UBS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the UBS conveyancing panel. Can the lender hold off the offer?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Due to the encouragement of my in-laws I had a survey completed on a house in Salcombe in advance of retaining conveyancers. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some lenders tend not give a mortgage on this type of home.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Salcombe. Conveyancing will be smoother if you use a solicitor in Salcombe especially if they are acquainted with such properties in Salcombe.
Hoping to buy a property located in Salcombe and I am already nervous. I couldn't find anything specific about Salcombe. Conveyancing will be needed in due course but do you know about the Salcombe area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Salcombe. In the meantime here are some basic statistics that we found