lenderpanel

Find a Paignton Conveyancing Solictior on Your Lender’s Panel

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

Only LenderPanel.com provides a subset of authorised Paignton conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Paignton

I require quick conveyancing in Paignton as I am faced with a deadline to exchange contracts inside one month. Thankfully I do not require a mortgage. Can I decline from having conveyancing searches to save money and time?

As you are are a mortgage free purchaser you have the choice not to do searches although no solicitor would recommend that you don't. Drawing on years of experience of conveyancing in Paignton the following are examples of what can crop up and adversely affect future saleability: Enforcement Notices, Overdue Fees, Overdue Grants, Railway Schemes,...

It has been five months following my purchase conveyancing in Paignton completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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 asset 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.

I am buying a new build house in Paignton with the aid of help to buy. The builders would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not inform my solicitor about this side-deal as it may affect my mortgage with Platform Home Loans Ltd. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Due to the input of my in-laws I had a survey completed on a house in Paignton in advance of retaining lawyers. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some banks tend refuse to grant a loan on such a property.

It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. If you e-mail us we can investigate 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 Paignton. Conveyancing may be slightly more expensive based on your lender's requirements.

I am employed by a reputable estate agency in Paignton where we have witnessed a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Paignton conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has been the owner 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. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

Paignton Leasehold Conveyancing - Sample of Queries Prior to Purchasing

    Is there a share of the freehold? How much is the ground rent and service charge? Many Paignton leasehold flats will have a service charge for maintenance of the building levied on behalf of the landlord. Where you purchase the flat you will have to pay this contribution, normally periodically during the year. This can be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a ground rent to be met yearly, this is usually not a significant figure, say approximately £25-£75 but you need to check it because occasionally it can be prohibitively expensive.

Last updated

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