Do lenders provide you with an approved list of Dawlish conveyancing solicitors? How do you know who is on the Nottingham conveyancing panel?
Dawlish conveyancing firms themselves provide us confirmation that they are on the Nottingham conveyancing panel as opposed to being supplied with a list from Nottingham directly.
Does a directory service exist listing Nationwide panel conveyancers in Dawlish on the UK Finance Lenders’ Handbook Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few banks make their panel listings available over the internet. If you are in need of a Dawlish conveyancer on the Nationwide please use our facility.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Dawlish property lawyer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society 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 Leeds Building Society mortgage from the register. Leeds Building Society, 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 Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
After shopping around on the internet I have found a Dawlish solicitor having made sure that they are on the Yorkshire BS conveyancing panel. Does my lawyer arrange the survey of the property?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Dawlish postcode. As you are getting a mortgage with Yorkshire BS, you could contact them to see if they have a list of approved surveyors in Dawlish.
My friend advised me that where I am purchasing in Dawlish I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your Dawlish conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Dawlish around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information regarding Dawlish.
I have been on the look out for a flat up to £195,000 and identified one round the corner in Dawlish I like with a park and station in the vicinity, however it only has 51 remaining years left on the lease. There is not much else in Dawlish for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage the shortness of the lease will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
I am attracted to a couple of flats in Dawlish both have in the region of forty five years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the value of the lease deteriorates and it becomes more expensive to extend the lease. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area.
I acquired a 1st floor flat in Dawlish, conveyancing was carried out in 2000. How much will my lease extension cost? Comparable properties in Dawlish with over 90 years remaining are worth £211,000. The ground rent is £45 invoiced every year. The lease terminates on 21st October 2086
With just 67 years remaining on your lease we estimate the price of your lease extension to range between £10,500 and £12,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.