Forgive me if this question is silly but I am unseasoned as a 1st time buyer of a ground floor flat in Braunton. Do I receive the keys to the house on completion from my lawyer? If so, I will appoint a local conveyancing solicitor in Braunton?
On the day of completion you will not be required to go to the conveyancers office in Braunton. Your solicitors will arrange to send the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you will be invited to receive the keys from the property Agents and move into your new home. Usually this happens between 1 and 3pm.
I have today made my last payment due on my mortgage with TSB. I assume I don't need a Braunton solicitor on the TSB panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your TSB 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 TSB mortgage from the register. TSB, 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 TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
After much negotiation I have agreed a price on a house in Braunton. My mortgage broker recommended their conveyancers. I paid an advanced payment of £150. Shortly after, the lawyer called me to say that they were not on the Nationwide 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 Nationwide 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.
I have been told that property searches are a common reason for delay in Braunton conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances in the conveyancing process. Searches are unlikely to feature in any holding up conveyancing in Braunton.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Braunton is where the house is located. Can you shed any light on this issue?
Flying freeholds in Braunton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Braunton you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Braunton may ascertain 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.
I am using a search engine for the phrase conveyancing in Braunton it reveals many property lawyersin the vicinity. With so much choice what is the best way to find the suitable solicitor for my move?
The best way of seeking a suitable conveyancer is through a personal referral, so ask friends and family who have purchased a property in Braunton or a reputable estate agent or mortgage broker. Costs for conveyancing in Braunton differ, so it's advisable to request a minimum of four estimates from varying types of companies. Make sure that you know that the fees are fixed.
Can you provide any advice for leasehold conveyancing in Braunton with the intention of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Braunton can be bypassed if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers. If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a property where a dispute is unresolved. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic rather than unresolved. A minority of Braunton leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. You may think that you are aware of the number of years left on your lease but you should verify this by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
Leasehold Conveyancing in Braunton - A selection of Questions you should ask before buying
How is the lease structured? Are any of leasehold owners in dispute over their service charge payments? Who manages the block?