lenderpanel

Find a Port Isaac Conveyancing Solictior on Your Lender’s Panel

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

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


Recently asked questions about conveyancing in Port Isaac

Our nephew is in the process of securing a house that has just been built in Port Isaac with a mortgage from Co-operative. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?

The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Co-operative conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Co-operative conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

I'm purchasing a new build house in Port Isaac benefiting from help to buy. The sellers refused to reduce the price so I negotiated 6k of extras instead. The sale representative suggested that I not to tell my solicitor about the deal as it would put at risk my loan with the lender. Is this normal?.

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.

I am looking for a ground for flat up to £235,500 and found one near me in Port Isaac I like with amenity areas and railway links nearby, however it's only got 49 remaining years left on the lease. I can't really find anything else in Port Isaac in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?

If you require a home loan that many years will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.

Am I better off to instruct a Port Isaac conveyancing solicitor who is local to the property I am hoping to buy? I have an old university friend who can carry out the legal work but they are based 300kilometers drive away.

The primary upside of using a high street Port Isaac conveyancing practice is that you can drop in to execute documents, present your ID and pester them where appropriate. Having local Port Isaac know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and the majority were impressed that should outweigh using an unfamiliar Port Isaac conveyancing lawyer just because they are local.

Do you have any top tips for leasehold conveyancing in Port Isaac with the aim of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Port Isaac can be avoided if you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ solicitors.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Obtaining a replacement share certificate can be a lengthy process and delays many a Port Isaac home move. If a new share certificate is necessary, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity. Many freeholders or managing agents in Port Isaac charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Port Isaac. If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unresolved. You believe that you know the number of years remaining on your lease but it would be wise to verify this via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is below 80 years. It is therefore important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Port Isaac Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

    Plenty Port Isaac leasehold flats will incur a service charge for maintenance of the block levied on behalf of the management company. Should you buy the property you will have to meet this amount, usually periodically accross the year. This can be anything from several hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a ground rent to be met annual, this is usually not a large figure, say approximately £50-£100 but you need to enquire it because sometimes it could be prohibitively expensive. How much is the maintenance charge and ground rent on the apartment?

Last updated

Neighbouring Locations

Boscastle
Tintagel
Port Isaac
Camelford
Delabole
Padstow
Wadebridge
Bodmin

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