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Ready to buy a new home in Lyme Regis? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Lyme Regis conveyancing at risk of delay or failure.

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Recently asked questions about conveyancing in Lyme Regis

I own a freehold house in Lyme Regis but still charged rent, why is this and what is this?

It’s unusual for properties in Lyme Regis and has limited impact for conveyancing in Lyme Regis 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 have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.

Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.

It has been 2 months following my purchase conveyancing in Lyme Regis completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

How does conveyancing in Lyme Regis differ for newly converted properties?

Most buyers of new build or newly converted property in Lyme Regis come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is finished. This is because builders in Lyme Regis typically buy the site, 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 Lyme Regis or who has acted in the same development.

I need to find a conveyancing solicitor for freehold conveyancing in Lyme Regis. I happened to land on a web site which appears to be the ideal answer If there is a chance to get all the legals completed via web that would be preferable. Do I need to be wary? What should out be looking out for?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

Why is New Build conveyancing in Lyme Regis more costly?

Acquiring a new build home is completely distinct from the normal house purchase conveyancing in Lyme Regis. For a start sellers normally insist contracts to exchange within a tight deadline, so there is a lot of pressure on your property lawyer to make sure all is in order. Furthermore new build properties often necessitate examination of adoption of highways, drains, planning considerations, building warranties or architects certificates. Mortgage lender requirements are also more detailed. Due to the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.

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Find out more about how flying freehold can affect your the value of a property.