It is is a decade since I purchased my house in Paignton. Conveyancing lawyers have just been appointed on the sale but I am unable to locate the title deeds. Will this cause complications?

You need not be too concerned. Firstly the deeds may be retained by your lender or they may be in the possession of the solicitor who acted in your purchase. Secondly the likelihood is that the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. Most conveyancing in Paignton involves registered property but in the rare situation where your home is not registered it is more of a problem but is resolvable.

I have been on the look out for a leasehold apartment up to £245,000 and found one round the corner in Paignton I like with amenity areas and railway links nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Paignton for this price, so just wondered if I would be making a grave error acquiring a short lease?

If you need a mortgage the shortness of the lease may be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.

I am downsizing from my home. My former conveyancers have shut. I am in need of a recommendation of a conveyancing firm. Im based in Paignton if that makes a difference.

Do use our search tool to help you find a solicitor for your conveyancing in Paignton. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.

When it comes to leasehold conveyancing in Paignton what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Paignton. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Norwich and Peterborough Building Society, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.

Paignton Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing

What restrictions are there in the Paignton Lease? How much is the service charge and ground rent on the apartment? The best form of lease structure is a share of the freehold. In this scenario the tenants enjoy control and although a managing agent is often employed if the building is bigger than a house conversion, the managing agent retained by the leaseholders.

My partner and I have AIP from The Royal Bank of Scotland who suggested that they will loan up to £117k. At what point do I need to instruct a lawyer for conveyancing? Paignton is where we are .

You can appoint a lawyer now so that the property lawyer can open the file so they can conduct the AML checks etc. If and when you wish them to commence work you will be asked for a deposit normally about £225. That should generally be once you have the loan offer from the lender and valuation back, but if you wish to expedite the process you can start sooner even though you may be risking some money.