My fiance and I are looking to purchase a property in Torquay and are in fact using a Torquay conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Alliance & Leicester have this evening contacted us to inform me that they have now hit a problem as our Torquay lawyer is not on their conveyancing panel. Is this a problem?
If you are buying a property needing a mortgage it is usual for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Torquay solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
I am purchasing a property mortgage free in Torquay. I have lived for the previous 15 years in Torquay. Conveyancing searches are exorbitant. Given that I have knowledge of the area and road intimately must I have all the conveyancing searches?
If you not getting a mortgage, then almost all of the Torquay conveyancing searches are optional. Your lawyer will try and sway you, perhaps strongly, that you should have searches completed, but he has a professional duty to do this. One thing to bear in mind; if you are likely to dispose of the house in the future, it will be of interest to your prospective purchaser what the searches determine. On occasion properties with day to day issues can still reveal unfavourable search results. A good conveyancing solicitor in Torquay should be able to give you some constructive advice concerning this.
is it true that all Torquay conveyancing solicitors on the Bank of Ireland conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Bank of Ireland conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Some banks do list licenced conveyancers on their panel and in that case the practice would be governed by the Council of Licensed Conveyancers.
How can we know in advance if a Torquay conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Torquay obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the solicitor carrying out your transaction.
Two weeks ago we had a mortgage agreed in principle with Kent Reliance. Torquay conveyancing lawyers are appointed. What is the average time that one could expect to receive a mortgage offer from Kent Reliance?
There is no definitive answer here. Have Kent Reliance done the valuation? Have you informed Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Are there restrictive covenants that are commonly identified during conveyancing in Torquay?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Torquay. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Torquay differ for new build properties?
Most buyers of new build or newly converted property in Torquay approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because developers in Torquay usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Torquay or who has acted in the same development.
I am 17 days into a freehold purchase having been directed to conveyancers by the selling agent to perform conveyancing in Torquay. I am not happy. Could you you assist me in finding new solicitors?
They would have to be really bad in order to consider changing them. Has the loan offer been issued? If so you need to advise them of the new contact details and have the mortgage documents are re-issued. Your new solicitor ideally should be on the lenders panel to avoid supplemental fees and delays. So that should be your first question of the new lawyers. Our search tool should assist you in finding a lender approved solicitor for your conveyancing in Torquay