My wife and I are purchasing a property in Torquay. It might be a silly question but how we can trust a lawyer? At some point we have to send money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Can you help - my lawyer advises that lack of building regulations insurance is necessary on my purchase. What is the level of cover for Torquay conveyancing?
The right level of lack of building regulations indemnity insurance should be dictated by who your lender. It would differ for example between National Westminster Bank and The Royal Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such insurances.
I'm the sole beneficiary of my late mum's estate with all property in now in my sole name, including the my former home in Torquay. Conveyancing formalities meant that the Land Registry date was in November. I want to move. I do know about the CML six month 'rule', meaning my property ownership may be considered the same way as though I had purchased the property in November. Will no one buy the property for half a year?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. many mortgage companies would take a sensible view as this clause is primarily there to pick up on the purchase and immediately sell or the flipping of property.
How does conveyancing in Torquay differ for newly converted properties?
Most buyers of new build premises in Torquay come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Torquay usually buy the land, 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 property lawyers 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 used to new build conveyancing in Torquay or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Torquay in advance of instructing lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some lenders tend refuse to issue a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. If you e-mail us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Torquay. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Torquay to see if the conveyancing costs will increase in light of this.
As co-executor for the estate of my grandfather I am disposing of a property in Newport but I am based in Torquay. My lawyer (who is 235 miles from mehas requested that I execute a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing solicitor in Torquay to witness this legal document for me?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are located in Torquay
I own a leasehold flat in Torquay. Conveyancing and Barnsley Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Torquay who acted for me is not around. Do I pay?
First make enquiries of HMLR to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Torquay conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Torquay - Examples of Questions you should ask Prior to Purchasing
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Many Torquay leasehold properties will incur a service bill for maintenance of the block levied on behalf of the freeholder. Where you buy the property you will have to pay this charge, usually in instalments accross the year. This can be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all probability there will be a rentcharge for you to pay yearly, this is usually not a exorbitant figure, say approximately £25-£75 but you need to check it because on occasion it could be many hundreds of pounds. Is the freehold reversion owned collectively by the leaseholders?
How much will conveyancing in Torquay cost?
The total sum levied for conveyancing in Torquay may vary dramatically from firm to firm. In the circumstances it especially important that you find this out before you appoint a solicitor. It is advisable to find a couple fee estimate.