Me and my partner are hoping to buy a 1 bedroom flat in Torrington with a mortgage. We would like to retain our Torrington lawyer, but the bank advise he's not on their "panel". It seems we have no option but to appoint one of the lender panel solicitors or continue with our Torrington conveyancer and pay for one of their panel ones to represent them. This feels very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Torrington conveyancing lawyer to apply to be on the conveyancing panel.
Last October we completed a house move in Torrington. We have noticed several problems with the property which we believe were missed in the conveyancing searches. What action can we take? Can you clarify the type of searches that should have been conducted as part of conveyancing in Torrington?
The query is not clear as to the nature of the problems and if they are unique to conveyancing in Torrington. Conveyancing searches and investigations undertaken as part of the legal transfer of property are supposed to help avoid problems. As part of the process, the vendor completes a form referred to as a SPIF. If the information proves to be inaccurate, you may have a misrepresentation claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Torrington.
My wife and I own a semi-detached Victorian house in Torrington. Conveyancing practitioner acted for me and Accord Mortgages Ltd. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register for 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 Torrington 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 purchasers. You can also enquire as to the situation with your conveyancing solicitor who carried out the work.
We're first time buyers - agreed a price, but the property agent has warned us that the owners will only proceed if we appoint the agent's preferred lawyers as they need a ‘quick sale’. We would rather use a local conveyancer accustomed to conveyancing in Torrington
It is unlikely the owners are behind this. Should the seller desire ‘a quick sale', alienating a motivated buyer is not the way to achieve this. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are ready to go, with finances arranged © you are chain free (d) you wish to move quickly (e)but you are going to use your preferred Torrington conveyancing solicitors - not the ones that will give the estate agent a commission or meet his conveyancing figures demanded by senior management.
I am hoping to exchange soon on a studio apartment in Torrington. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Torrington should include some of the following:
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Repair and maintenance of the premises Who has the liability to repair and maintain the main walls and foundations. It is essential that you know who is duty bound to repair and maintenance of every part of the building Your solicitors should enable you to have an understanding of the insurance obligations The total ownership of the premises. This might be the apartment itself but may include a roof area or basement if relevant.
I own a 2 bed flat in Torrington, conveyancing was carried out June 2012. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Torrington with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2091
With only 65 years remaining on your lease we estimate the price of your lease extension to be between £13,300 and £15,400 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
I have today had an offer accepted on an apartment in Torrington and the mortgage adviser that we are dealing with recommended his conveyancer. She quoted a thousand pounds plus VAT and disbursements. Does this sound expensive?
Don't just go on one estimate. One should seek like-for-like quotes for your conveyancing in Torrington. Then select one that you trust and just as important, is on the approved list of the mortgage company that you have applied for a mortgage from.