It has come to my attention via my mortgage broker that my Torpoint property lawyer is not on the lender Solicitor panel. What can I do to be certain whether this is indeed the case?
The first thing you need to do is to contact your Torpoint conveyancer. You lawyer should inform you what has happened. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
My fiancee and I are in the process of viewing flats in Torpoint and I am now considering a potential offer. Is it sensible to have a conveyancer on ‘stand by’? I intend to finance via a home loan with Aldermore.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. As you are taking out a mortgage with Aldermore, make sure you remember to check that your lawyer is on the Aldermore conveyancing panel.
I have paid off my mortgage with UBS. I assume I don't need a Torpoint solicitor on the UBS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
Virgin Money have agreed my home loan in principle, my bid on a house in Torpoint has been agreed to, what are the next steps?
The property agent will wish to be informed of your conveyancing practitioner's details (make sure the property lawyers are on the lender’s approved list). Contact Virgin Money or your broker and finish off any outstanding forms. Virgin Money will appoint a valuer who will get in contact with the estate agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes approximately a fortnight to get a mortgage offer. Virgin Money will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Torpoint.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Torpoint?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Torpoint. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I opted to have a survey completed on a house in Torpoint ahead of instructing solicitors. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some banks will refuse to give a mortgage on this type of house.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Torpoint. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Torpoint to see if the conveyancing will be more expensive.
I was advised by numerous property agents in Torpoint to choose a property lawyer on your site. Is there a financial upside for Estate Agents to promote your lawyers ahead of a competitor’s?
We refuse to make any referral fee for pointing buyers and sellers our way. We thought it would be too underhand to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.