After reading moneysavingexpert.com for a high-quality lawyer in Ilfracombe, many say that I must use a CQS accredited lawyer. Can you explain what CQS is?
Ilfracombe Conveyancing Quality Scheme practices have achieved accreditation by the law Society The Law Society created CQS to promote high standards in the in the legal transfer of properties. CQS enables house movers to recognise practices who provide a quality residential conveyancing. Ilfracombe is one of the many areas in England and Wales in which CQS have offices. The conveyancing scheme obliges law firms to undergo a strict assessment, compulsory training, self-certification, spot checks 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 Association of British Insurers.
Is it the case that all Ilfracombe CQS (Conveyancing Quality Scheme) solicitors are on the RBS conveyancing list of approved practices?
It is true that some lenders now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
I am currently in the process of buying my council flat in Ilfracombe. I have a mortgage agreed with Nottingham. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
Intending to buy a flat in Ilfracombe. 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 Principality 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 Ilfracombe property lawyer is on the Principality conveyancing panel.
It has been three months following my purchase conveyancing in Ilfracombe completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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.
Over the last few months I have been searching for a ground for flat up to £305k and found one round the corner in Ilfracombe I like with a park and transport links nearby, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Ilfracombe in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
Should I stop the direct debit for my mortgage with Skipton once a completion date for my sale in Ilfracombe has been set?
You are best advised to keep paying any mortgage sums to Skipton until the mortgage is discharged on completion as part of your Ilfracombe conveyancing.