Me and my partner are purchasing residence in Torrington. My Solicitor is not on the mortgage company conveyancing list. Is it possible for me to retain my Torrington conveyancing solicitor even though they are not on the lender panel of approved conveyancing solicitors?
You have a couple of choices available to you here
- Carry on with your chosen Torrington conveyancer but your bank will undoubtedly appoint a conveyancing practitioner from their approved list. The net result is additional cost and probable interruption.
- Choose a fresh solicitor to act in the purchase, obviously checking they are on the lender conveyancing panel.
- Convince your conveyancer to attempt to join the bank panel
five months have elapsed following my purchase conveyancing in Torrington concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 property 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 have been on the look out for a flat up to £305k and found one round the corner in Torrington I like with open areas and station in the vicinity, however it only has 52 years on the lease. There is not much else in Torrington suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a mortgage the shortness of the lease will likely be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
We're first time buyers - had an offer accepted, yet the selling agent told us that the vendor will only move forward if we appoint their preferred conveyancers as they want an ‘expedited deal’. We would rather use a high street conveyancer with experience of conveyancing in Torrington
We suspect that the owner is unaware of this request. If they require ‘a quick sale', alienating a genuine purchaser is counter productive. Avoid the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you intend to use your own,trusted Torrington conveyancing lawyers - not the ones that will earn the estate agent a kickback or meet his conveyancing targets pre-set by head office.
Planning to complete next month on a basement flat in Torrington. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Torrington should include some of the following:
Whether the lease restricts you from renting out the flat, or having a home office for business You should have a good understanding of the insurance requirements Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? Defining your rights in respect of the communal areas in the building.For instance, does the lease contain a right of way over an accessway or hallways? The landlord’s rights to access the property. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided.
I am the registered owner of a garden flat in Torrington, conveyancing was carried out in 1996. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Torrington with an extended lease are worth £255,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ceases on 21st October 2094
With just 73 years left to run we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.