I am buying residence in Saltash. My property lawyer is not on the lender approved list. Is it possible for me to use my Saltash conveyancing solicitor notwithstanding that they are not on the bank panel?
You must instruct a solicitor to complete the formalities when you take out a loan to buy your home. The solicitor will carry out all the relevant legal checks on the property, make sure that you’re registered as proprietor and ensure that all the required mortgage paperwork is in place. You may appoint a Saltash property lawyer of your choice. However, if the lawyer selected is not a member of the lender conveyancing panel further charges will be levied as separate legal representation will be need by the mortgage company. Conveyancing panel applications can be submitted, so provided your lawyer has not historically sought membership they should take the opportunity to apply.
I am nearing an exchange on a house in Saltash and my parents have transferred the 10% deposit to my solicitor. I am now advised that as the deposit has been sent from someone other than me my conveyancer needs to disclose this to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I informed the lender regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The property lawyer is obliged to check with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.
I own a freehold residence in Saltash yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Saltash and has limited impact for conveyancing in Saltash 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 hundreds of years, but the Rent Charge Act 1977 barred the generation 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.
It has been 3 months following my purchase conveyancing in Saltash took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I need to appoint a conveyancing solicitor for some conveyancing in Saltash. I happened to land on a web site which appears to be the perfect offering If there is a chance to get all the legals completed via web that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My boyfriend is purchasing a basement flat in Saltash. He was given a quote by the lawyer recommended by the estate agents and it came to £1156 . It was 7 years ago I sold and bought a property and it cost was £495. Have charges really increased to that extent?
We would recommend that you e-mail 3 or 4 local Saltash conveyancing solicitors requesting prices. You should base your decision not only on cost, but on promptness and on how comprehensive the reply is.