It is a dozen years since I purchased my house in South Molton. Conveyancing solicitors have now been instructed on the sale but I am unable to locate the title documents. Is this a problem?
You need not be too concerned. Firstly the deeds may be kept by your lender or they may still be with the solicitor who oversaw your purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. Most conveyancing in South Molton relates to registered property but in the rare situation where your home is not registered it adds to the complexity but is not insurmountable.
Forgive me if this question is silly but I am unexperienced as FTB of a two bedroom flat in South Molton. Do I collect the keys to the property on completion from my conveyancer? If so, I will appoint a local conveyancing solicitor in South Molton?
On the day of completion you will not be required to attend the conveyancers office in South Molton. Your solicitors will electronically transfer the purchase money to the seller's conveyancers, and once they have received this, you should be able to pick up the keys from the Estate Agents and start moving into the property. Usually this occurs between 1 and 3pm.
My husband and I have organised a further advance on our mortgage from Kent Reliance as we intend to conduct a loft conversion to our property in South Molton. Do we need to appoint a bricks and mortar South Molton solicitor on the Kent Reliance conveyancing panel to deal with the paperwork?
Kent Reliance don't usually require a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in August 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nottingham are being pedantic. The South Molton solicitor who is on the Nottingham conveyancing panel is recommending indemnity insurance as a solution but Nottingham are insisting on a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
It has been four months since my purchase conveyancing in South Molton completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. 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 premises 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.
How does conveyancing in South Molton differ for newly converted properties?
Most buyers of new build or newly converted property in South Molton contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because builders in South Molton typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in South Molton or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, chain free conveyancing. South Molton is the location of the property. Can you offer any guidance?
Flying freeholds in South Molton are rare 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 very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Molton may determine 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 property.