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Find a Teignmouth Conveyancing Solictior on Your Lender’s Panel

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

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Recently asked questions about conveyancing in Teignmouth

As someone not used to the Teignmouth conveyancing process what’s your top tip you can give me for the ownership transfer in Teignmouth

You may not hear this from too many lawyers but conveyancing in Teignmouth and elsewhere in Devon is often a confrontational experience. In other words, when it comes to conveyancing there exists lots of opportunity for friction between you and other parties involved in the transaction. E.g., the seller, property agent and even potentially the lender. Selecting a lawyer for your conveyancing in Teignmouth is a critical decision as your conveyancer is your adviser, and is the ONLY person in the legal process whose role it is to act in your legal interests and to keep you safe.

There is a definite ongoing adversarial element to conveyancing- someone has to be blamed for the process taking so long. We recommend that you must always trust your solicitor above all other parties in the home moving process.

Are there restrictive covenants that are commonly picked up as part of conveyancing in Teignmouth?

Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Teignmouth. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

I'm refinancing my primary home to a BTL loan with Lloyds TSB Bank and intend to use the remaining equity as a deposit on further property. The neighborhood we are looking at is Teignmouth. Will your conveyancers be able to act for both sets of mortgage companies and tie in the two deals?

Do use our comparison tool on this page to check that the conveyancers are approved by both mortgage companies. On the basis that they are your solicitor should be able to connect the two transactions but you should talk with you solicitor and make apparent your desired outcome and requirements.

I am looking at a two apartments in Teignmouth both have about fifty years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Teignmouth is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. For most purchasers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Teignmouth conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am the registered owner of a leasehold flat in Teignmouth, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Teignmouth with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease terminates on 21st October 2076

You have 54 years unexpired the likely cost is going to span between £32,300 and £37,400 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.

I am in the process of buying my first home in Teignmouth. Conveyancing practitioner already selected. The mortgage adviser pointed out that a survey is not necessary as the house was only built 22 years ago.

At the very least you should order a Home Buyer's Report. As the property is more than ten years old the property will not come with a warranty, so you would be well advised not to take a risk. For a property that age with no signs of problems a Home Buyer's report could be sufficient. The report should highlight any obvious problems and suggest further investigation if appropriate. If there are any indications of problems seek a comprehensive Building Survey from the beginning.

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