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Find a Okehampton Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Okehampton? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Okehampton transaction at risk of delay or failure.

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Recently asked questions about conveyancing in Okehampton

Due to complete my purchase in Okehampton next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What does the insurance need to cover?

All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These requirements are not specific to conveyancing in Okehampton.

In what way does my ID and proof of funds have anything to do with my conveyancing in Okehampton? What am I being asked for?

It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Okehampton. Nowadays you can not proceed with any conveyancing process in the absence handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are providing your driving licence as evidence of ID it needs to be both the paper part as well as the photo card part, one is not satisfactory without the other.

Evidence of the origin of money is mandated under Money Laundering Regulations. You should not be offended when you are asked to produce this as your conveyancer will need to have this information on record. Your Okehampton conveyancing lawyer will require evidence of proof of funds before they are able to accept any monies from you into their client account and they may also ask additional questions regarding the origin of funds.

My colleague advised me that where I am buying in Okehampton I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

A search of this type is usually quoted for as part of the standard Okehampton conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Okehampton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Okehampton Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information about Okehampton.

My wife and I purchased a renovated Georgian house in Okehampton. Conveyancing lawyer represented me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?

You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Okehampton and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with your conveyancing practitioner who conducted the work.

Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a simple, chain free conveyancing. Okehampton is where the house is located. Can you offer any assistance?

Flying freeholds in Okehampton are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Okehampton you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Okehampton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

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Neighbouring Locations

Merton
Devon
Winkleigh
Okehampton

Find out more about how flying freehold can affect your the value of a property.