Unfortunately I am unable to travel far from Tintagel. What is the rationale as to why all Tintagel property lawyers aren't included on all mortgage company panels?
Mortgage companies highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. It resulted in banks and building societies purging a number of firms from their panel of approved property lawyers .
There is lots of information on this site concerning conveyancing in Tintagel but what is your top tip for selecting the right conveyancer in Tintagel
We would encourage you not to base your choice on the cheapest Tintagel conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Two weeks ago we had a mortgage agreed in principle with Nottingham. Tintagel conveyancing lawyers were selected. What is the average time that one could expect to receive a mortgage offer from Nottingham?
There is no definitive answer here. Have Nottingham conducted the survey? Have you informed Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Coventry BS have agreed my mortgage in principle, my bid on a house in Tintagel has been accepted, now what?
The property agent will want to be advised as to your lawyer's details (ensure that the property lawyers are on the bank’s panel). Call up Coventry BS or your broker and finish off any relevant forms. Coventry BS will instruct a valuer who will get in touch with the estate agent or owners to book a time for the valuation to occur. Once conducted (assuming no problems) it takes about a week for the mortgage offer to be issued. Coventry BS will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Tintagel.
What does a local search inform me regarding the property I am buying in Tintagel?
Tintagel conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for instance PSG The local search is essential in every Tintagel conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your property. The search should provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
My husband and I are FTB’s - had an offer accepted, but the selling agent told us that the owners will only issue a contract if we appoint the agent's preferred conveyancers as they want a ‘quick sale’. Our preferred option is to instruct a family conveyancer used to conveyancing in Tintagel
It is improbable the sellers are behind this. If they desire ‘a quick sale', taking such a hostile approach to a genuine buyer is counter productive. Avoid the agents and go straight to the owners and make sure they understand (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you intend to use your own,trusted Tintagel conveyancing solicitors - as opposed tothose that will provide their negotiator at the agency a kickback or meet his conveyancing figures set by head office.
Last September I purchased a leasehold property in Tintagel. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a basement flat in Tintagel, conveyancing having been completed 6 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Tintagel with an extended lease are worth £201,000. The ground rent is £45 invoiced annually. The lease expires on 21st October 2090
With 64 years left to run the likely cost is going to range between £14,300 and £16,400 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.