My friend's dad is a conveyancer. I anticipate that I will be offered preferential fee for conveyancing, However if that does not come materialise, what level of costs would I typically be looking at for conveyancing in Totnes?
It’s wise to seek 3 or more like-for-like conveyancing quotes. Do use our comparison tool on this site. You will notice that charges will contrast greatly but service levels do differ between conveyancers as is the case with the vast majority of professional services.
Do lenders provide you with an approved list of Totnes conveyancing solicitors? How do you know who is on the Skipton conveyancing panel?
Totnes conveyancing firms themselves provide us confirmation that they are on the Skipton conveyancing panel as opposed to being supplied with a list from Skipton directly.
I have a decision in principle. The lender mentioned the loan came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would much rather instruct a Totnes based conveyancing firm?
You should check but the chances are that appoint one of their panel conveyancers where you want the "fee-free" deal. Contact the mortgage company to determine if they make available a cash alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor near Totnes.
Is there a list of TSB panel conveyancers in Totnes on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. A small selection of lenders make their panel listings open the public online. Where you are in need of a Totnes conveyancer on the TSB please use our tool.
We had instructed conveyancing lawyers based in Totnes on the Yorkshire BS solicitor approved list. They have just invoiced me an additional charge for dealing with the Yorkshire BS mortgage. Is this a supplemental conveyancing fee set by Yorkshire BS?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your property lawyer is entitled to levy a fee for this. The fee is not set by Yorkshire BS but by your Totnes conveyancing practitioner. Some firms on the Yorkshire BS panel will levy ’dealing with mortgage’ fee but many practices incorporate it on their overall fee.
I've digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Totnes solicitor - who is on the Yorkshire BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Totnes surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Are there restrictive covenants that are commonly identified during conveyancing in Totnes?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Totnes. 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…’
I am purchasing my first flat in Totnes with a loan from Bank of Ireland. The developers would not reduce the price so I negotiated £7000 of additionals instead. The property agent suggested that I not inform my lawyer about this extras as it could affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.