It has come to my attention via my mortgage broker that my Sidmouth the law firm I have appointed is not on the lender Solicitor panel. How can I be certain if this is indeed the case?
The first thing you need to do is to contact your Sidmouth conveyancer. You lawyer should advise you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
My wife and I purchasing a 4 bedroom semi-detached house in Sidmouth. We would like to an extension at the rear at the property.Will legal due diligence on the property involve investigations to see if these works are allowed?
Your solicitor will review the deeds as conveyancing in Sidmouth will on occasion reveal restrictions in the title deeds which restrict certain works or need the permission of another owner. Certain additions call for local authority planning permissions and approval in compliance with building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
We expect to receive a AIP from Lloyds this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Lloyds recommend any Sidmouth solicitors on the Lloyds conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Sidmouth solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
I currently have a mortgage with Barclays for my property in Sidmouth. Conveyancing was finalised months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Barclays?
Barclays must be informed of your intention prior to renting your property as this is likely to be a breach of Barclays’s mortgage conditions. It may be that Barclays will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. You need not do this via a Barclays conveyancing panel solicitor.
I am buying a new build apartment in Sidmouth. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Sidmouth
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please confirm the Lease plans are surveyor prepared.
I am looking for a leasehold apartment up to £305k and identified one close by in Sidmouth I like with a park and railway links in the vicinity, however it only has 51 remaining years left on the lease. There is not much else in Sidmouth in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan that many years may be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
I own a leasehold flat in Sidmouth. Conveyancing and Bank of Ireland mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Sidmouth who acted for me is not around. Any advice?
First make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Sidmouth conveyancing solicitor to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Sidmouth Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
If a Sidmouth lease has fewer than eighty years it will have adverse implications on the salability of the property. It is worth checking with your bank that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will most likely require a lease extension sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you will be be obliged to have owned the property for two years before you are legally able to extend the lease. The prefered form of lease structure is a share of the freehold. In this arrangement the tenants benefit from being in charge if their destiny and even though a managing agent is frequently employed if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Who takes responsibility for maintaining and repairing the building?