Me and my partner are purchasing our first home. Our conveyancer has messagedto enquire if we would like to take out supplemental conveyancing searches. We are really unsure what's needed for conveyancing in Plymouth
The extent of Plymouth conveyancing searches depends primarily on the premises, the location, the possibility of any of these risks, your knowledge of the locality and risks, your overall appetite to risk. What is important is that you properly appreciate what information each search could supply. You may then make a decision if you personally think you need that information. If in doubt, ask your solicitor to explain.
Finally the sale completed on my house in Plymouth last July yet the purchaser is texting every few hours to moan that her lawyer is waiting to hear from mylawyer. What should my lawyer have done now that I have sold?
Following your house sale your solicitor is duty bound to send the transfer deeds and all of the paperwork to the buyer’s lawyers. Depending on the transaction, your solicitor must also evidence that the home loan has been repaid to the buyers lawyers. There are no post completion formalities just for conveyancing in Plymouth.
What is the difference between a licensed conveyancer and conveyancing solicitor in Plymouth
Two types of professional can conduct conveyancing in Plymouth namely CLC regulated conveyancers or solicitors. Both professionals provide conveyancing services that required to complete the sale or acquisition of property. They are both required to perform Plymouth conveyancing on similar standards and guidelines so you can be safe in the knowledge that your conveyancing will be properly administered and that all requisite steps will be appropriately attended to.
I happen to be the only beneficiary of my late father’s will and I have everything in my name now, including the house in Plymouth. The Plymouth property was put into my name in September. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership could be regarded the same way as though I had purchased the house in September. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. Most lenders would take a practical view as this obligation principally exists to capture subsales or the wholesaling and assigning of properties.
I recently had an offer accepted on an apartment in Plymouth. My mortgage broker suggested a conveyancing practitioner. I paid an on account payment of £175. Shortly after, the solicitor 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.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Plymouth is the location of the property. Is there any advice you can impart?
Flying freeholds in Plymouth are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Plymouth you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Plymouth may determine 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £350,000 maisonette in Plymouth next Friday. The management company has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Plymouth?
For the majority of leasehold sales in Plymouth conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering conveyancing due diligence enquiries
Where consent is required before sale in Plymouth
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I purchased a studio flat in Plymouth, conveyancing was carried out February 1996. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Plymouth with over 90 years remaining are worth £260,000. The ground rent is £45 invoiced annually. The lease ends on 21st October 2098
With 74 years unexpired the likely cost is going to span between £8,600 and £9,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.