I have just started taking steps with a view to transferring my existing standard home loan to a Buy to Let Godiva Mortgages Ltd mortgage. The bank has said that I need a lawyer for this. I got in contact with the same Bovey Tracey conveyancing firm who dealt with the legals when I originally acquired the premises. The costs estimate they've given of just over five hundred pounds is an eye-watering amount to do this as its a remortgage than a sale or purchase.
The estimate fees seem a bit high. If you are happy to expend time contrasting prices you may be able to get the conveyancing a bit cheaper by say £100 plus VAT. That being said, providing that you were content with the conveyancing the firm gave you couldcome to rue opting for an an unknown solicitor. Remember to enquire the solicitor can also act for Godiva Mortgages Ltd. You can make use of our search tool to get a quote a Bovey Tracey conveyancing firm on the Godiva Mortgages Ltd approved list of lawyers, which can often include conveyancing solicitors in Bovey Tracey.
My brother and I have just bought a house in Bovey Tracey. We have noticed several problems with the house which we suspect were omitted in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that should have been ordered as part of conveyancing in Bovey Tracey?
It is not clear from the question as to the nature of the problems and if they are specific to conveyancing in Bovey Tracey. Conveyancing searches and investigations initiated during the buying process are designed to help avoid problems. As part of the legal transfer of property, a seller answers a document referred to as a Seller’s Property Information Form. answers turns out to be incorrect, you could possibly take legal action 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 Bovey Tracey.
I have an AIP. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to appoint their panel conveyancer as I would prefer to instruct a high street conveyancing solicitor in Bovey Tracey?
Do check but the the likelihood is that appoint one of their panel solicitors if you want the "fee-free" deal. Contact the lender to explore if they offer you a monetary alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Bovey Tracey.
Please help - my lawyer advises that breach of easement insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Bovey Tracey?
The right level of breach of easement indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and The Royal Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such insurances.
We are getting a further advance on our home loan from Lloyds as we wish to conduct alterations to our property in Bovey Tracey. Do we need to choose a local Bovey Tracey solicitor on the Lloyds conveyancing panel to deal with the paperwork?
Lloyds do not ordinarily require a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds list.
I have today made my last payment due on my mortgage with Skipton. I assume I don't need a Bovey Tracey conveyancer on the Skipton panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Skipton mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Skipton mortgage from the register. Skipton, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Skipton has sent the Land Registry the discharge electronically, and
- Skipton has instructed the Land Registry to do so
I am looking for a ground for flat up to £305k and identified one close by in Bovey Tracey I like with a park and transport links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Bovey Tracey suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a mortgage the shortness of the lease may be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.