My family lawyer has sent a quote for just over a thousand pound for freehold conveyancing in Budleigh Salterton. I am selling a modern property for £125,000. Is this overpriced? Is it in excess of the average fee for conveyancing in Budleigh Salterton?

The costs illustration is fractionally on the steep side. If you are willing to spend time comparing quotes you may be able to get the conveyancing a bit cheaper by as much as £125. On the other hand, you mightlive to rue opting for an a cheaper solicitor. If is important to be sure the conveyancer can also act for your lender. Do use our comparison tool to get a quote a Budleigh Salterton conveyancing company on the lender’s conveyancing panel which can often include conveyancing solicitors in Budleigh Salterton.

I purchased a freehold house in Budleigh Salterton but still pay rent, why is this and what is this?

It is rare for properties in Budleigh Salterton and has limited impact for conveyancing in Budleigh Salterton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.

we are a couple who are hoping to buy a purpose built flat in Budleigh Salterton with a homeloan from Birmingham Midshires.We use our Budleigh Salterton conveyancing practitioner but Birmingham Midshires says she’s not on their approved list of firms. We have to appoint a Birmingham Midshires panel firm or keep our high street solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Birmingham Midshires use our lawyer?

No, not really. The mortgage issued to you contains terms and conditions, a common one being that solicitors needs to be on the Birmingham Midshires conveyancing panel. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Birmingham Midshires

I completed on my house on 5 July and my personal details are still not on the land registry website. Need I be worried? My conveyancing solicitor in Budleigh Salterton advises it will be concluded in a couple of weeks. Are properties in Budleigh Salterton particularly slow to register?

There is nothing unique about conveyancing in Budleigh Salterton registration formalities. Rather than based on location, timeframes can vary according to who lodges the application, whether there are errors and if the Land registry need to notify any interested persons or bodies. As of today approximately 80% of such applications are fully addressed in less than three weeks but occasionally there can be extensive delays. Historically registration occurs after the purchaser is living at the property thus an expedited registration is not typically top priority yet if there is a degree of urgency associated with the registration then you or your conveyancer should contact the land registry and explain the circumstances.

I am tempted by the attractive purchase price for a couple of maisonettes in Budleigh Salterton which have approximately fifty years left on the lease term. should I be concerned?

There is no doubt about it. A leasehold apartment in Budleigh Salterton is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of buyers and lenders, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 Budleigh Salterton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

I purchased a studio flat in Budleigh Salterton, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Budleigh Salterton with over 90 years remaining are worth £180,000. The ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2083

You have 58 years unexpired the likely cost is going to span between £21,900 and £25,200 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.