Me and my fiancee are buying our first house. The conveyancer has calledto check if we want to order additional conveyancing searches. As novices we are clueless as to what's necessary for conveyancing in Torpoint

The scope of Torpoint conveyancing searches depends primarily on the premises, the location, the likelihood of any of these risks, your knowledge of the area and risks, your overall approach to risk. What is important is that you properly comprehend what information each search could supply. You may then decide if you personally think you need that search. Should you be unsure, ask your property lawyer to advise.

It is a dozen years since I bought my property in Torpoint. Conveyancing solicitors have just been appointed on the sale but I can't find my title deeds. Is this a problem?

You need not be too concerned. Firstly the deeds may be with your lender or they may stored with the solicitor who acted in your purchase. Secondly in most cases the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. Almost all conveyancing in Torpoint relates to registered property but in the unlikely event that your property is not registered it is more tricky but is resolvable.

We previously selected conveyancing lawyers locally in Torpoint on the Clydesdale solicitor approved list. They have just invoiced me an additional amount for dealing with the Clydesdale mortgage. Is this an additional conveyancing fee specified by Clydesdale?

Provided it is contained in their Terms of Engagement or estimate then yes your lawyer is entitled to levy a fee for this. This charge is not set by Clydesdale but by your Torpoint property lawyer. Some firms on the Clydesdale panel will levy an ‘acting for lender’ fee but plenty of practices include it on their overall fee.

I have decided to exercise my right to buy my property in Torpoint off the council. I have a mortgage offer with Principality. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?

It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.

My sealed bid on a detached house in Torpoint has been accepted, but there is a chain. The vendors have offered on a flat, however it’s not yet tied up, and are looking at other apartments booked. I have chosen a local conveyancing solicitor in Torpoint. What should be my next step? At what point do I apply for the mortgage with Nottingham?

It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then survey, Torpoint conveyancing search costs, etc). First, you should check that your conveyancing practitioner is on the Nottingham approved list. Regarding the subsequent phase this very much dictated by the circumstances of your case, desire for this property and on the state of the market. During a buoyant market the majority of purchasers would apply for the mortgage with Nottingham and pay for the valuation and only if it was satisfactory would they pay their solicitor to move forward with the conveyancing in Torpoint.

A colleague suggested that where I am purchasing in Torpoint I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

A search of this type is occasionally included in the estimate for your Torpoint conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Torpoint around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Torpoint Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful data concerning Torpoint.

I am attracted to a two apartments in Torpoint which have in the region of 50 years left on the leases. should I be concerned?

There is no doubt about it. A leasehold apartment in Torpoint is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most buyers and mortgage companies, leases with less than 75 years become less and less marketable. 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 premises 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 Torpoint 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 the agreed 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.

Torpoint Leasehold Conveyancing - Examples of Queries before Purchasing

Who takes charge for maintaining and repairing the block? Please note if it is less than 80 years it will impact the value of the flat. It is worth checking with your lender that they are content with residual term of the lease. A short lease means that you will probably require a lease extension sooner rather than later and it is worth finding out how much this will be. For most Torpointlease extensions you would be be obliged to have been the owner of the residence for two years before you are legally able to carry out a lease extension. Does the lease include onerous restrictions?