I am in need of a conveyancer. Should I go for for a nationwide conveyancer rather than a family Toton conveyancing solicitor?
Toton is a unique place, where regional experience counts for a lot. The laid-back lifestyle has an upside – just not when it comes to your home move. The property lawyers that we recommend combine deep Toton knowledge with a proactive, hands-onapproach that helps everything runs smoothly. It is a definite plus that they can make use of established connections with mortgage brokers, search providers, surveyors and counterpart Toton conveyancing practices
My wife and I are only a couple days away from an exchange on a flat in Toton and my mum and dad have transferred the exchange deposit to my conveyancer. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I advised the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
The conveyancing practitioner is legally required to clarify with lender to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
I own a freehold premises in Toton but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Toton and has limited impact for conveyancing in Toton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I have a mortgage with Skipton for my property in Toton. Conveyancing has been completed a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?
Your original mortgage agreement with Skipton will provide that you need their approval before letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. It may be that Skipton will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. It should not be necessary to do this via a Skipton conveyancing panel firm.
The formalities of my purchase has taken place for my property in Toton. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
About to purchase maisonette in Toton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Toton lawyer is on the Bank of Ireland conveyancing panel.
It has been three months following my purchase conveyancing in Toton completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing a ground floor maisonette in Toton. Conveyancing lawyer has been waiting for, from the owner, building insurance paperwork. I was told today I was informed that the seller must forward the insurance paperwork for the flat above also. Why does my lawyer want to check the insurance for the other flat? Is it strictly required? We have been stalled for the previous fortnight…
It is not unheard of in leasehold conveyancing in Toton to find Conveyancing in Toton in a minority of cases reveals that the lease requires the leasehold owners to insure their individual flats as opposed to the landlord insuring the whole premises - which is clearly better. You should double check with your lawyer but it would appear that your property lawyer is looking to verify that the complete building is insured. Insuring a ground floor residence is no help when it comes to rebuilding after a fire if the 1st floor cannot be rebuilt due to lack of insurance cover.