As a first time buyer what is the most important number one tip you can impart about purchase conveyancing in Newton Abbot?
You may not hear this from too many lawyers but conveyancing in Newton Abbot or throughout England and Wales is an adversarial process. In other words, when it comes to conveyancing there is plenty of room for friction between you and other parties involved in the transaction. For instance, the seller, selling agent and sometimes the mortgage company. Choosing a lawyer for your conveyancing in Newton Abbot an important selection as your conveyancer is your adviser, and is the SOLE person in the process whose role it is to look after your legal interests and to protect you.
There is a definite creep in the "blame" culture- someone must be blamed for the process taking so long. We recommend that you should always trust your conveyancer ahead of the other players when it comes to the legal assignment of property.
We have agreed to purchase a house in Newton Abbot. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender TSB be concerned?
As you are obtaining a mortgage with TSB your lawyer must comply with the formal requirements contained in Section 2 of UK Finance Lenders’ Handbook for TSB. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to TSB where a lease fails to satisfy these requirements. The requirements relate to the installation of panels on properties in England and Wales and is not limited to Newton Abbot.
After months of negotiation I have agreed a price on an apartment in Newton Abbot. My mortgage broker suggested a property lawyer. I paid an advanced payment of £150. Not long after, the property lawyer contacted me sheepishly admitting that they were not on the Coventry BS 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 Coventry BS 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.
I have instructed a Newton Abbot property lawyer having made sure that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money 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. You may wish to consider appointing your own Newton Abbot surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Newton Abbot is the location of the property. What do you suggest?
Flying freeholds in Newton Abbot are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Newton Abbot you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Newton Abbot may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I need to find a conveyancing solicitor for remortgage conveyancing in Newton Abbot. I've land on a web site which looks to be the perfect solution If there is a chance to get all formalities completed via web that would be preferable. Do I need to be concerned? What are the potential pitfalls?
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?
I have just appointed agents to market my garden flat in Newton Abbot. Conveyancing is yet to be initiated, however I have just received a yearly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as you normally would because all ground rent and service invoices will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I own a studio flat in Newton Abbot, conveyancing formalities finalised 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Newton Abbot with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease terminates on 21st October 2091
You have 71 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.