What is your number one tip for finding a conveyancing solicitor in Dawlish
Do not opt for the lowest Dawlish conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I have paid off my mortgage with TSB. I assume I don't need a Dawlish property lawyer 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
I currently have a mortgage with Principality for my property in Dawlish. Conveyancing has been completed 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Principality?
You must advise Principality in advance of letting out your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. It should not be necessary to do this via a Principality conveyancing panel firm.
I am purchasing my first flat in Dawlish with the aid of help to buy. The sellers refused to reduce the price so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not inform my solicitor about the extras as it may impact my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a ground for flat up to £195,000 and identified one round the corner in Dawlish I like with a park and station nearby, however it's only got 49 years unexpired on the lease. I can't really find anything else in Dawlish in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan the remaining unexpired lease term may be an issue. 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. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
Should I be wary about brokers that I am dealing with are suggesting a nationwide conveyancing firm rather than a High Street Dawlish conveyancing practice?
As with lots of professional services, often recommendations from family and friends can be extremely useful or valuable. But there are lots of players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all recommend lawyers to appoint. On occasion the conveyancers might be known to one of the organisations as being good in their field, but sometimes there may be a financial incentive behind the endorsement. You are free to select your own conveyancer. Don't forget that many lenders operate an approved list of lawyers you are obliged to use for the lender related work in your conveyancing.
Are there common problems that you come across in leases for Dawlish properties?
Leasehold conveyancing in Dawlish is not unique. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
Maintenance charge proportions which don’t add up to the correct percentage Repairing obligations to or maintain elements of the property
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Virgin Money, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to pull out.
I purchased a studio flat in Dawlish, conveyancing formalities finalised in 2011. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Dawlish with over 90 years remaining are worth £201,000. The ground rent is £45 yearly. The lease runs out on 21st October 2087
With only 65 years left to run the likely cost is going to be between £13,300 and £15,400 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.