Find a South Molton Conveyancing Solictior on Your Lender’s Panel

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

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Recently asked questions about conveyancing in South Molton

Having been told to check out your service we were about to appoint conveyancing solicitor in South Molton recommended on your site but have come across alternative quotes via the web look less pricey – how come?

One can find numerous conveyancing organisations promoting alleged cut-price conveyancing, but supplementalfees result in the completion invoice mounting up beyond all recognition. According to the Legal Ombudsman charges contained in terms of engagement should be honest and reasonable invoiced The conveyancers that we put forward for conveyancing in South Molton specify all charges for a standard conveyancing case.

My partner and I are getting closer to an exchange on a flat in South Molton and my mum and dad have sent the 10% deposit to my lawyer. I am now told that as the deposit has not come from me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the bank about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?

Your property lawyer is legally required to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.

I got the keys to my apartment on 13 April and my personal details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in South Molton said it will be registered inside ten days. Are properties in South Molton particularly slow to register?

There is nothing unique about conveyancing in South Molton registration formalities. Rather than based on location, timeframes can adjust according to the party submitting the application, whether it is in order and whether the Land registry need to notify any interested parties. As of today in the region of three quarters of such applications are completed in less than three weeks but occasionally there can be longer hold-ups. Historically registration is effected once the purchaser is living at the premises so registration formalities is not usually an essential issue but where it is urgent that the the registration takes place urgently then you or your lawyers can communicate with the Registry to express the reasoning for the application to be prioritised.

Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a quick, chain free conveyancing. South Molton is the location of the property. What do you suggest?

Flying freeholds in South Molton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside South Molton you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Molton 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 residence.

I am expecting to complete buying a house in South Molton but as a consequence of wreckage from the recent storms I have negotiated compensation from the owner of £2k taking the form of a adjustment in the price. This was going to be addressed as part of the conveyancing process but the bank will not agree to this. Why were they involved?

Your solicitor that is on a mortgage company approved list is duty bound to advise the lender of any changes to the sale figure. In the event that you did not allow your conveyancer to report the price change to your bank then they would have to discontinue representing you and the bank.

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