My IFA has requested my Teignmouth law firm’s panel reference for the Santander conveyancing panel. Can you suggest how I obtain this. I have contacted my local Teignmouth branch but they don't know it.
The sensible thing to do is ask for this information from your Teignmouth conveyancer . Most Teignmouth conveyancing firms will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
It is 10 years ago since I bought my house in Teignmouth. Conveyancing solicitors have just been appointed on the sale but I can't find the deeds. Is this a problem?
You need not be too concerned. First the deeds may be retained by the lender or they may be in the possession of the lawyers who oversaw your purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. Most conveyancing in Teignmouth involves registered property but in the rare situation where your property is unregistered it adds to the complexity but is resolvable.
I am helping my mother sell her house in Teignmouth. Will the solicitor commission an energy performance certificate or should I organise this?
Following the demise of Home Packs, energy assessments was retained a required part of moving house. An EPC should be commissioned prior to the property being placed on the market. It is not as aspect of the sale process that law firms ordinarily organise. Where you are instructing a Teignmouth conveyancing practitioner they might help arrange EPC’s given their relationships with long established Teignmouth energy assessors
We previously appointed conveyancing lawyers located in Teignmouth on the TSB solicitor panel. They are now charging me a further charge for the legal aspects of the TSB mortgage. Is this an additional conveyancing fee specified by TSB?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your property lawyer may levy a fee for this. The fee is not dictated by TSB but by your Teignmouth property lawyer. Some firms on the TSB panel will quote ’dealing with mortgage’ fee and others do not.
After shopping around on the internet I have found a Teignmouth conveyancing practitioner having checked that they are on the Lloyds conveyancing panel. Does my lawyer arrange the survey of the property?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds 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 Teignmouth 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.
How do I use your search facility to select a conveyancing lawyer in Teignmouth on the authorised to act for my lender?
1st choose a mortgage company such as Yorkshire Building Society, Leeds Building Society or Britannia then choose your preferred area such as Teignmouth. Conveyancing firms in Teignmouth and beyond will then be listed.
Due to exchange soon on a studio apartment in Teignmouth. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Teignmouth should include some of the following:
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Defining your rights in respect of common areas in the block.E.G., does the lease permit a right of way over an accessway or hallways? Where does the liability rest to repair and maintain the block. It is important for you to know which party is responsible the repair and maintenance of all parts of the block and communal areas The length of the lease term. You should receive guidance as what happens when the lease ends, and aware of the importance of the 80 year mark if lease provides for a reserve fund for major works? Rent payments - what is payable and what the invoice dates are, and also know whether this will change in the future
I bought a basement flat in Teignmouth, conveyancing was carried out July 2006. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Teignmouth with over 90 years remaining are worth £265,000. The ground rent is £50 charged once a year. The lease finishes 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 costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
We own a leasehold flat in Teignmouth. Conveyancing was completed in 21012. I have read on numerous advice forums that I mustn’t allow the the remaining lease term to get too low. Is this correct?
Teignmouth domestic long term leases are for a prescribed period - usually 99 years when they commenced. However a significant appartments in Teignmouth were built or converted in the 70’s80’s and so such leases now have less than 80 years unexpired. This may seem like plenty of time however Banks, Building Societies and other mortgage institutions generally need leases to have at least 75 years remaining to adequate security. This means that when you come to sell the property you will need to extend the term of your lease if you are nearing 75 years. To increase the saleability of your property you should be thinking about whether to extend your lease long before you come to sell it. Please note that there are significant benefits to taking action before the lease hits eighty years as when the lease falls below eighty years the amount you have to pay to extend starts to get a lot more expensive.