The Teignmouth conveyancing firm handling our Teignmouth conveyancing has identified a discrepancy when comparing the surveyor’s assumptions in the valuation report and what is revealed within the legal papers for the property. My lawyer has advised that he is obliged to ensure that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s stance correct?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications 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 you.
Is it the case that all Teignmouth solicitor practices on the Lloyds conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Lloyds approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many lenders do list licenced conveyancers on their panel in which case such firms would be governed by the CLC.
We were going to get a OIP from Aldermore this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Aldermore recommend any Teignmouth solicitors on the Aldermore conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Teignmouth solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
I have today made my last payment due on my mortgage with TSB. I assume I don't need a Teignmouth lawyer on the TSB panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
Should our lawyer be raising questions about flooding as part of the conveyancing in Teignmouth.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Teignmouth. Some people will purchase a property in Teignmouth, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, but there are a number of searches that may be undertaken by the purchaser or by their conveyancers which should figure out the risks in Teignmouth. The conventional set of information given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the owner to discover whether the property has historically flooded. If the residence has been flooded in past which is not revealed by the vendor, then a purchaser could commence a compensation claim stemming from an inaccurate reply. A purchaser’s conveyancers may also carry out an environmental search. This will disclose if there is a recorded flood risk. If so, more detailed investigations will need to be carried out.
My wife and I own a renovated Georgian property in Teignmouth. Conveyancing lawyer represented me and Nottingham Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Teignmouth and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing solicitor who conducted the conveyancing.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Teignmouth is where the house is located. What do you suggest?
Flying freeholds in Teignmouth are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Teignmouth you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Teignmouth may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I need to appoint a conveyancing solicitor for residential conveyancing in Teignmouth. I happened to land on a web site which looks to be the perfect solution If it is possible to get all formalities completed via email 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?