Can conveyancing in Teignmouth to be done within two weeks?

In the event that you are under time constraints to complete it is highly recommended that your conveyancer is familiar with the area as they will make use of local contacts and knowledge. It is even conceivable that they may have conducted previousproperties in the same neighbourhood. You would be best advised to use a Teignmouth conveyancing solicitor. Second, double check that the lawyer is on the lender panel. It is said that 18% of Teignmouth conveyancing transactions are frustrated or jeopardised after finding out that a purchaser’s lawyer was not on their mortgage lender’s list of approved solicitors. This can often result in the conveyancing being delayed by an average of three weeks. It is estimated that this issue affects in the region of one hundred thousand home sales annually. Almost all Teignmouth conveyancing firms can not act for certain lenders so do check as early as possible.

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

Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with prior to agreeing to accepting their conveyancing retainer. The Terms of Engagement that you need to sign should stipulate this. Your lender will also require certain documents to be viewed. Where you are unwilling to supply identification documents, your conveyancer would not be able to act for you.

I recently had an offer accepted on an apartment in Teignmouth. My mortgage broker pressured me to appoint their solicitor. I paid an on account payment of £225. A few days later, the solicitor contacted me to say that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

I was told three weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Teignmouth is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.

A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.

I've read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Teignmouth solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?

Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide 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 Teignmouth 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 have recentlyfound out that Stirling Law have been shut down. They carried out my conveyancing in Teignmouth for a purchase of a leasehold flat 12 months ago. How can I be sure that my home is in my name in the name of the former proprietor?

The easiest way to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Teignmouth conveyancing specialists.

Frank (my husband) and I may need to rent out our Teignmouth 1st floor flat for a while due to a new job. We used a Teignmouth conveyancing firm in 2001 but they have closed and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?

The lease dictates the relationship between the freeholder and you the flat owner; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Teignmouth do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

I invested in buying a 1 bedroom flat in Teignmouth, conveyancing was carried out 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Teignmouth with a long lease are worth £176,000. The ground rent is £50 invoiced every year. The lease ceases on 21st October 2105

You have 80 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.