We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel lawyer as I would prefer to appoint a local conveyancing solicitor in Exmouth?

You should check but the the likelihood is that give you one of their panel solicitors where you accept the "fee-free" deal. Speak to the mortgage company and ask if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Exmouth.

I'm the single recipient of my late mum's will and I have everything in my name now, including the house in Exmouth. The Exmouth property was put into my name in March. I plan to dispose of the house. I do know about the CML six month 'rule', which means that my property ownership could be considered the same way as though I had purchased the property in March. Will no one buy the property for half a year?

The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. Most lenders would take a practical view as this provision primarily exists to capture the purchase and immediately sell or the quick reselling of properties.

Are all Exmouth Conveyancing Quality Solicitors on the Principality conveyancing panel?

Some major banks and building societies now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.

I had an offer accepted on a house in Exmouth on 23/2/2024, valuation was booked 4 days later, received a clean bill of health. Property lawyer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Coventry BS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Coventry BS conveyancing panel. Can the lender hold off the offer?

A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.

I opted to have a survey carried out on a property in Exmouth in advance of retaining solicitors. I have been advised that there is a flying freehold element to the property. My surveyor has said that some banks will not issue a mortgage on a flying freehold house.

It depends who your proposed lender is. HSBC has different instructions from Nationwide. Should you wish to call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Exmouth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Exmouth to see if the conveyancing will be more expensive.

I am attracted to a couple of maisonettes in Exmouth both have in the region of forty five years left on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Exmouth. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the value of the lease reduces and it becomes more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena.

Leasehold Conveyancing in Exmouth - Examples of Questions you should ask Prior to Purchasing

The prefered form of lease structure is where the freehold reversion is owned by the leaseholders. In this situation the tenants benefit from being in charge if their destiny and although a managing agent is usually retained where the building is bigger than a house conversion, the managing agent employed by the leaseholders. How much is the ground rent and service charge? Is the freehold owned collectively by the tenants?

Online reading suggests that Exmouth solicitors are more expensive than licensed conveyancers in Exmouth when it comes to buying a house. So is it better if I use a conveyancer or a solicitor where I am buying for my home move in Exmouth.

When it comes to conveyancing in Exmouth the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.