My flat in Exminster is up for sale and I have a purchaser. Does the conveyancer need to be on the Clydesdale conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Clydesdale conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Exminster?
There are many recorded licenced Conveyancers in Exminster and Solicitor partnerships in Exminster who can assist with your conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. They may both also deal with other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I recently had an offer agreed on an apartment in Exminster. My mortgage broker recommended their conveyancers. I paid an upfront payment of £150. A few days later, the property lawyer called me sheepishly admitting that they were not on the Santander 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 Santander 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.
Planning on purchasing a maisonette in Exminster. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the TSB conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Exminster conveyancing practitioner is on the TSB conveyancing panel.
How does conveyancing in Exminster differ for newly converted properties?
Most buyers of new build premises in Exminster contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is constructed. This is because house builders in Exminster usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Exminster or who has acted in the same development.
I was advised by a few property agents in Exminster to get a quote from a property lawyer on your site. Is there a financial advantage for Estate Agents to market your services over and above another?
We refuse to offer any commission for pointing buyers and sellers our way. We thought it would be too underhand to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am a negotiator for a reputable estate agency in Exminster where we see a few flat sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Exminster conveyancing firms. Please can you shed some light as to whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Exminster - A selection of Queries Prior to Purchasing
In the main the cost for major works are not built into the maintenance charges, although a few managing agents in Exminster ask leaseholders to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance. The answer will be useful as a) areas could cause problems in the building as the common areas may start to deteriorate if repairs remain unpaid b) if the leaseholders have an issue with the running of the building you will need to have all the details The majority of Exminster leasehold properties will have a service charge for maintenance of the building levied by the landlord. If you acquire the property you will have to meet this contribution, usually periodically during the year. This could differ from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge for you to pay annual, normally this is not a significant figure, say approximately £25-£75 but you should to check as on occasion it could be prohibitively expensive.