I have given 2 months notice to my existing landlord and must be out of my let out flat in Torrington by 4/9/2025. Conveyancing on my purchase has just started. How realistic is it to complete in 5 weeks as don't want to have to move into temporary accommodation?
The normal practice is not to provide notice for your lease until you have exchanged. If you have not previously done so, contact to your solicitor and urge them to they chase the other solicitors, try to a target completion date that everyone will work towards
Why do I have to pay up front for conveyancing in Torrington?
Where you are retaining lawyers for conveyancing in Torrington your solicitor will ask you put them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. If any deposit is payable against the purchase price then this will be needed shortly before contracts are exchanged. Any further balance that is due will be payable shortly before completion.
I can see plenty of here concerning conveyancing in Torrington but what is your top tip for appointing the right conveyancer in Torrington
Do not opt for the lowest Torrington conveyancing quote. 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.
I currently have a mortgage with Leeds Building Society for my property in Torrington. Conveyancing has been completed months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Leeds Building Society?
Leeds Building Society must be informed of your intention before renting your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel lawyer.
Our offer on a semi in Torrington has been accepted, the vendors do however have an associated purchase. The sellers have placed an offer on a flat, however it’s not yet tied up, and have viewings of other flats in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Torrington. What do I do now? At what point should I apply for the mortgage with Bank of Ireland?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then valuation, Torrington conveyancing search costs, etc). First, you should check that your solicitor is on the Bank of Ireland approved list. As to the next steps this very much depends on the uniqueness of your transaction, motivation for the property and on the state of the market. During a rising market many purchasers will apply for a home loan with Bank of Ireland and pay for the valuation and only if it comes back ok would they pay their conveyancer to proceed with the conveyancing in Torrington.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Torrington?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Torrington. 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…’
Over the last few months I have been searching for a leasehold apartment up to £305k and found one close by in Torrington I like with amenity areas and railway links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Torrington in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage that many years will be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.