All was ready to move into my new home in Torpoint next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the lender. What does the insurance need to cover?
All property lawyers on acting for mortgage companies 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 Part 2 conditions. These obligations are not limited to conveyancing in Torpoint.
Is there a list of Barclays panel conveyancers in Torpoint on the Council of Mortgage Lender’s Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few lending institutions make their panel listings viewable on the web. Where you are seeking to appoint a Torpoint solicitor on the Barclays please make the most of our facility.
My wife and I have arranged the release of further monies on our home loan from Nottingham as we want to carry out improvements to our home in Torpoint. Are we obliged to choose a local Torpoint solicitor on the Nottingham conveyancing panel to deal with the legals?
Nottingham don't usually require a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham panel.
I had an offer accepted on an apartment in Torpoint on 20/6/2025, valuation was booked 3 days later, received a clean bill of health. Property lawyer instructed, so all that was missing was my mortgage offer. Having made daily calls to Kent Reliance and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Kent Reliance conveyancing panel. Can the lender hold off the offer?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Kent Reliance to deal with your lawyer's application to be on the Kent Reliance conveyancing panel. There's no guarantee that your solicitor will be accepted.
Various internet forums that I have come across warn that are the primary reason for stalling in Torpoint house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are not likely to be the root cause of delay in conveyancing in Torpoint.
2 months have elapsed following my purchase conveyancing in Torpoint took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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 residence 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.
I was pointed in your direction by a couple of local estate agents in Torpoint to choose a conveyancer using your seach tool. Is there a financial inducement for Estate Agents to market your lawyers over another?
We refuse to give any commission for pointing buyers and sellers to this site. We found it would be just too difficult to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.