I have just been advised by my lender that my Salcombe property lawyer is not on the lender Solicitor panel. How can I be sure if this is correct?
Your first step should be to contact your Salcombe lawyer directly. You lawyer should advise you what has happened. Where they are not on the panel they may recommend you to a Salcombe conveyancing practice that is on the approved list of lawyers for your mortgage company.
Me and my partner are buying a apartment in Salcombe. I might seem paranoid but how we can trust a lawyer? At some point we have to send funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
How can we tell if a Salcombe conveyancing solicitor on the TSB panel is any good?
When it comes to conveyancing in Salcombe seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the solicitor handling your conveyancing.
After shopping around on the internet I have found a Salcombe lawyer having made sure that they are on the Yorkshire BS conveyancing panel. Does my lawyer arrange the survey of the property?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Salcombe surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I require expedited conveyancing in Salcombe as I am faced with an ultimatum to exchange contracts inside 4 weeks. Thankfully I do not need a mortgage. Can I decline from having conveyancing searches to save fees and time?
As you are not getting a home loan you have the choice not to have searches carried out although no solicitor would suggest that you don't. With lots of history conveyancing in Salcombe the following are instances of issues that can show up and therefore affect future saleability: Enforcement Actions, Overdue Fees, Outstanding Grants, Road Schemes,...
Over the last few months I have been searching for a leasehold apartment up to £305k and found one close by in Salcombe I like with amenity areas and station in the vicinity, however it only has 51 remaining years left on the lease. I can't really find anything else in Salcombe suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the shortness of the lease will be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
My nephew is embarking on her first house purchase, he had his mortgage in principle. One the seller agreed the offer on the house we contacted the mortgage company to issue the formal offer. I was disappointed to hear that banks do not accept all conveyancing practitioner, they need to be on their approved list, is this legal?
Banks ordinarily imposes restrictions either the type or the number of conveyancing solicitors on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Salcombe solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.