I am in the throes of transferring my domestic loan to a BTL Platform Home Loans Ltd mortgage. The bank has said that I require a conveyancer for this. I got in contact with my former Taunton conveyancing firm who dealt with the legals when I initially purchased the premises. The costs illustration they've given of just over five hundred pounds is an eye-watering amount to do this as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The estimate does seem a little steep. Where you are prepared to invest time scrutinising costs you might trim some of the cost by perhaps a hundred pounds. On the other hand, if you were pleased with the legal work the firm offered you mightcome to rue opting for an an untested conveyancer. Remember to ensure that the conveyancer can also act for Platform Home Loans Ltd. Do make use of our search tool to get a quote a Taunton conveyancing firm on the Platform Home Loans Ltd conveyancing panel, which can often include conveyancing solicitors in Taunton.
My Taunton lawyer has identified an inconsistency when comparing the assumptions in the valuation survey and what is revealed within the title deeds. My lawyer informs me that he must check that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s stance right?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
My grandfather passed away 10 months ago and as sole heir and executor I was left the house in Taunton. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to TSB, pay off the mortgage. Is this allowed?
Given you intend to refinance then TSB will require that you use a conveyancer on the TSB conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your TSB conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the TSB mortgage is registered as a charge at the Land Registry.
This question may be naive but I am unseasoned as FTB of a two bedroom flat in Taunton. Do I collect the keys to the house on completion from my lawyer? If this is the case, I will find a local conveyancing solicitor in Taunton?
On the day of completion you do not need to attend the conveyancers office in Taunton. Conveyancing lawyers for you will electronically transfer the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you will be invited to receive the keys from the property Agents and move into your new home. This tends to happen early afternoon.
After much negotiation I have agreed a price on an apartment in Taunton. My mortgage broker suggested a lawyer. I paid an on account payment of £175. A couple of days later, the conveyancer called me to say that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have instructed a Taunton lawyer having made sure that they are on the Kent Reliance conveyancing panel. Does my lawyer arrange the survey of the property?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance 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 Taunton 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.
Will our lawyer be raising questions concerning flooding as part of the conveyancing in Taunton.
Flooding is a growing risk for solicitors carrying out conveyancing in Taunton. Plenty of people will buy a property in Taunton, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, however there are a various checks that may be carried out by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Taunton. The standard information given to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to determine if the property has suffered from flooding. If the premises has been flooded in past and is not disclosed by the seller, then a purchaser could issue a legal claim for losses resulting from an incorrect answer. The buyer’s lawyers will also commission an enviro report. This should higlight if there is a recorded flood risk. If so, additional investigations will need to be conducted.
I need to retain a conveyancing solicitor for remortgage conveyancing in Taunton. I have chance upon a web site which looks to be the perfect offering If it is possible to get all the legals done via web that would be preferable. Should I be concerned? 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?