I am in the process of selling my ground floor flat in Torrington and the estate agent has just telephoned to say that the buyers are changing their solicitor. The reason given is that the mortgage company will only engage with property lawyers on their conveyancing panel. Why would a big named mortgage company only deal with certain solicitors rather the firm that they want to appoint for their conveyancing in Torrington ?

Mortgage companies have always had an approved set of law firms that can act for them, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.

Lending institutions attribute this action to a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.

A relative advised me that if I am buying in Torrington I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

This is a search is occasionally included in the estimate for your Torrington conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Torrington around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Torrington Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful data regarding Torrington.

Just bought a terraced house in Torrington , What is the estimated time for the Land Registry to register the transfer to my name? My Torrington conveyancing solicitor has been very slow, so I want to check the registration is dealt with.

As far as conveyancing in Torrington is concerned, registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timeframes can adjust subject to the party submitting the application, whether there are errors and whether the Land registry need to notify any third parties. At present in the region of 80% of such applications are completed within 12 days but occasionally there can be protracted hold-ups. Historically registration occurs after the purchaser is living at the property therefore 'speed' is not typically primary concern yet where there is a degree of urgency associated with the registration then you or your solicitor should contact the land registry and explain the circumstances.

Planning to complete next month on a leasehold property in Torrington. Conveyancing solicitors assured me that they will have a report out to me on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Torrington should include some of the following:

You would want to receive a copy of the lease It needs to be made clear to you if the lease permits you to alter or upgrade anything in the premises- you must be made aware as to whether any restrictions relates to all alterations or just structural alteration, and whether permission is mandated necessary The unexpired lease term. You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark Specifying your legal entitlements in relation to common areas in the block.By way of example, does the lease permit a right of way over an accessway or hallways? The physical ownership of the demise. This may be the apartment itself but might incorporate a attic or basement if relevant.

I purchased a garden flat in Torrington, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Torrington with a long lease are worth £165,000. The ground rent is £45 per annum. The lease expires on 21st October 50

With only 50 years left to run the likely cost is going to be between £36,100 and £41,800 plus professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.

I note that you have a post code search directory listing law firms on the lender conveyancing panel. Do Torrington conveyancing companies pay you a referral fee if I retain them for my own house purchase?

We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Torrington.