I was advised recently by my estate agent that my Totnes the law firm I have appointed is not on the mortgage company Conveyancing panel. What can I do to be certain whether this is indeed the case?
The sensible course of action for you to take is to contact your Totnes conveyancer. You lawyer should notify you what has happened. If they are not on the panel they may recommend you to a Totnes conveyancing firm that is on the approved list of lawyers for your bank.
In scouring consumer advice sites for a high-quality lawyer in Totnes, many comment that I must use a CQS assured lawyer. What is CQS?
Totnes Conveyancing Quality Scheme law firms have obtained accreditation under the Law Society's Scheme (CQS) The Law Society introduced CQS to establish evidence of quality standards in the in the legal transfer of properties. CQS helps home movers to identify solicitor firms who provide a quality residential conveyancing. Totnes is one of the many areas in England and Wales in which CQS are based. The conveyancing scheme obliges solicitors to undergo a strict assessment, compulsory training, self-certification, random audits and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Legal Ombudsman.
What is the difference between a licensed conveyancer and conveyancing solicitor in Totnes
There are many recorded licenced Conveyancers in Totnes and Solicitor firms in Totnes who can help with your conveyancing It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. Both can handle associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I can not fathom if my mortgage offer requires a lease extension. I have called into my local Totnes building society branch on various occasions and was told it does not impact the mortgage offer and they would lend. My Totnes conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend based on their published requirements. Who do I believe?
Provided that the lawyer is on the mortgage company panel, she or he must adhere to the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am selling my house. I had a double glazing fitted in January 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Kent Reliance are being difficult. The Totnes solicitor who is on the Kent Reliance conveyancing panel is recommending indemnity insurance as a solution but Kent Reliance are requiring a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Totnes. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Totnes
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
I opted to have a survey completed on a house in Totnes prior to retaining conveyancers. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies will not issue a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Totnes. Conveyancing will be smoother if you use a solicitor in Totnes especially if they are familiar with such properties in Totnes.
Last November I purchased a leasehold property in Totnes. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a basement flat in Totnes, conveyancing having been completed 8 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Totnes with a long lease are worth £175,000. The ground rent is £65 invoiced annually. The lease finishes on 21st October 2084
With only 58 years unexpired the likely cost is going to range between £23,800 and £27,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.