We see that you have a post code search directory listing firms on the Principality conveyancing panel. Do companies pay you a commission if I appoint them for our own conveyancing in Babbacombe?
We are a listing service only for law firms wishing to communicate if they are on the Principality conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Babbacombe.
I have today made my last payment due on my mortgage with RBS. I assume I don't need a Babbacombe property lawyer on the RBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS 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 RBS mortgage from the register. RBS, 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 RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
It is not clear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Babbacombe building society branch on numerous occasions and was told they are content with the situation and they would lend. My Babbacombe conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend based on their specific requirements. Who do I believe?
As long as the conveyancer is on the bank approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I recently had an offer accepted on a house in Babbacombe. My mortgage broker pressured me to appoint their conveyancer. I paid an on account payment of £225. A few days later, the conveyancer called me to say that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
It has been 2 months following my purchase conveyancing in Babbacombe completed. I have checked the Land Registry website which shows that I paid £150,000 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.
I am looking to sell my property. My former lawyers have shut. I would be grateful for any recommendation of a conveyancing firm. Im based in Babbacombe if that makes things easier.
Do use our search tool to help you choose a solicitor for your conveyancing in Babbacombe. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
I am looking at a couple of flats in Babbacombe both have about fifty years left on the lease term. Do I need to be concerned?
There is no doubt about it. A leasehold apartment in Babbacombe is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the salability of the premises. For most purchasers and lenders, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Babbacombe conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Babbacombe Leasehold Conveyancing - Examples of Questions you should consider before Purchasing
Plenty Babbacombe leasehold apartments will be liable to pay a service charge for the upkeep of the building levied on behalf of the landlord. If you buy the apartment you will have to meet this amount, normally quarterly accross the year. This may differ from several hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a rentcharge for you to pay yearly, ordinarily this is not a exorbitant sum, say approximately £25-£75 but you need to enquire as sometimes it could be many hundreds of pounds. Does this lease have in excess of 85 years left?