I was recommended to a solicitor who has given a fee estimate £1150 for no completion no fee conveyancing in Torrington. I am looking to sell a Edwardian detached home for £175,000. This sounds expensive. Is it in excess of what I should be paying for conveyancing in Torrington?
The estimate does seem a tad overpriced. Where you are willing to invest time comparing costs you may be able to trim some of the cost by perhaps £100 plus VAT. On the other hand, you maycome to rue opting for an an unknown lawyer. Don't forget to ensure that the firm can also act for your bank. Do employ our search tool to choose a Torrington conveyancing company on the banks member panel which can often include conveyancing solicitors in Torrington.
My Torrington solicitor has uncovered a discrepancy between the surveyor’s assumptions in the valuation report and what is revealed within the title deeds. My solicitor says that he is duty bound to check that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s course or action appropriate?
Your property 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 both parties.
My wife and I are buying a property in Torrington. It might be a silly question but how we can trust a lawyer? At some point we have to deposit funds into their account. What is the protection we have from them run away with our monies?
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.
My wife and I are at the point of looking at houses in Torrington and I am now considering a potential offer. Is it too early to have a solicitor in place? I am planning to take a home loan with Coventry BS.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are obtaining a mortgage with Coventry BS, make sure you remember to check that your lawyer is on the Coventry BS conveyancing panel.
After what feels like an age I have had an offer on a maisonette in Torrington agreed to, but there is a chain. The vendors have offered on somewhere, however it’s not yet tied up, and are looking at other apartments booked. I have chosen a high street conveyancing solicitor in Torrington. What do I do now? At what point do I apply for the mortgage with UBS?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of £1k, then valuation, Torrington conveyancing search costs, etc). The first course of action is to check that your solicitor is on the UBS conveyancing panel. Regarding the subsequent steps this very much dictated by the uniqueness of your transaction, attraction to the property and on the state of the market. During a rising market some purchasers would apply for a home loan with UBS and pay for the valuation and only if it was satisfactory would they pay their solicitor to press on with searches.
I am looking for a leasehold apartment up to £305k and found one near me in Torrington I like with amenity areas and transport links in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Torrington in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the shortness of the lease will be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
I have just appointed agents to market my basement apartment in Torrington. Conveyancing is yet to be initiated, however I have just received a half-yearly maintenance charge invoice – what should I do?
It best that you discharge the service charge as you normally would given that all rents and maintenance invoices will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Leasehold Conveyancing in Torrington - A selection of Questions you should consider before buying
-
This information is useful as a) areas could result in problems for the block as the communal areas may start to deteriorate where services remain unpaid b) if the tenants have a dispute with the managing agents you will wish to have complete disclosure Best to be warned whether a new roof is being installed or some other significant cost is due in the near future that will be shared by the tenants and could well materially impact the level of the maintenance costs or result in a one time invoice. How much is the ground rent and service charge?
I have been searching for Torrington competitive conveyancing fees. Can I be sure that all the Torrington firms that are identified on your site are on the mortgage company conveyancing panel?
The law firms listed on our site have advised us that they are on the bank panel and agreed to advise us to take down their listing in the event of removal off of the bank panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Torrington conveyancing solicitor being on the bank conveyancing panel is not accurate.