I am buying a house for cash in Okehampton. I have been living for the previous 20 years in Okehampton. Conveyancing searches are a lot of money. Given that I know the road and vicinity very well must I have all the conveyancing searches?
Provided that you do not need a home loan, then almost all of the Okehampton conveyancing searches are optional. Your conveyancer will ’encourage you, no-doubt strongly, that you should have searches completed, but she has a professional duty to do this. One thing to bear in mind; if you are likely to dispose of the house at a future date, it may be of importance to your future buyer what the searches disclose. Sometimes houses with day to day issues can still throw up negative search results. A competent conveyancing solicitor in Okehampton should be able to give you some helpful advice here.
Do I have to attend the offices of the solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Okehampton so that I can attend their offices if necessary.
As opposed to 15 years ago, most banks no longer need their conveyancing panel lawyer to witness the borrowers signature. It will still be necessary for you to provide ID documents and there are still distinct advantages to instructing a local ayer, in your situation a conveyancing solicitor in Okehampton.
is it true that all Okehampton solicitor firms on the Aldermore conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Aldermore approved list of solicitors they would need to be regulated by the SRA. The majority of banks do permit licenced conveyancers on their panel in which case such organisation would be governed by the CLC.
I'm in the process of looking at flats in Okehampton and I am about to put in an offer. Is it too early to have a solicitor in place? I am planning to take a home loan with HSBC.
It would be wise to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are taking out a mortgage with HSBC, ask your prospective lawyers if they are on the HSBC conveyancing panel otherwise they can't do the mortgage legal work.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Okehampton lawyer on the UBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS 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 UBS mortgage from the register. UBS, 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 UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
My relative recommended that where I am purchasing in Okehampton I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes included in the estimate for your Okehampton conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Okehampton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Okehampton Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data about Okehampton.
I own a leasehold house in Okehampton. Conveyancing and Bank of Scotland mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Okehampton who previously acted has now retired. Any advice?
The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a Okehampton conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a 1 bedroom flat in Okehampton, conveyancing formalities finalised July 1999. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Okehampton with an extended lease are worth £216,000. The ground rent is £50 per annum. The lease terminates on 21st October 2088
With 69 years left to run the likely cost is going to be between £9,500 and £11,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.