I have given 2 months notice to my existing landlord and must be out of my rented property in Teignmouth by the end of next month. Conveyancing on my purchase has just started. Is it possible to complete in a couple of weeks as don't want to have to find short term accommodation?
Generally one should not provide notice on a rental unless you have exchanged. Assuming that you have not previously done so, contact to your lawyer and request that they cajole the sellers side, try to get a realistic time scale from them that everyone will look to achieve
Do lenders provide you with an approved list of Teignmouth conveyancing solicitors? How do you know who is on the Nationwide conveyancing panel?
Teignmouth conveyancing firms themselves provide us confirmation that they are on the Nationwide conveyancing panel as opposed to being supplied with a list from Nationwide directly.
My home in Teignmouth is up for sale and I have a purchaser. Does the conveyancer have to be on the Santander conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Santander conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
How does conveyancing in Teignmouth differ for newly converted properties?
Most buyers of new build or newly converted property in Teignmouth come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is completed. This is because builders in Teignmouth usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Teignmouth or who has acted in the same development.
Do you have any advice for leasehold conveyancing in Teignmouth from the perspective of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Teignmouth can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ lawyers. Many landlords or Management Companies in Teignmouth charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Teignmouth. If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Teignmouth state that internal structural changes or installing wooden flooring require a licence issued by the Landlord consenting to such works. If you dont have the approvals to hand do not contact the landlord without checking with your solicitor in the first instance. If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Obtaining a re-issued share certificate is often a time consuming formality and delays many a Teignmouth home move. Where a reissued share certificate is needed, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity. You believe that you know the number of years remaining on your lease but it would be advisable verify this via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
Teignmouth Leasehold Conveyancing - Sample of Queries Prior to Purchasing
Is there a share of the freehold? What is the maintenance charge and ground rent on the property? For many Teignmouth leaseholds the cost for major works tend not to be included within service charges, although there some managing agents in Teignmouth require leaseholders to contribute towards a sinking fund created for the specific purpose of establishing a fund for major repairs or maintenance.