The loan agreement from HSBC for the remortgage of my 4 bedroom flat is coming by the end of next week. Can you put forward a cheap conveyancing law firm in Torquay?
You are on the wrong site if you are seeking the cheapest conveyancing solicitors in Torquay. We can offer you excellent value conveyancing but we do not work with the cheapest lawyers. Avoid the trap of appointing brokers seducing you with ninety nine pound conveyancing in Torquay. The optimum result, in being led by low cost conveyancing, you will get your money’s worth and at worst you will end up with a hefty uplift in extras and still not get the service required.
The estate agent has sent us the confirmation of our purchase of a new build flat in Torquay. Conveyancing is a frightening process 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 legal work.
Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Torquay
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please confirm the Lease plans are architect prepared.
I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Torquay is where the house is located. Can you offer any guidance?
Flying freeholds in Torquay are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Torquay you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Torquay may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am a negotiator for a reputable estate agent office in Torquay where we see a few leasehold sales put at risk as a result of short leases. I have received conflicting advice from local Torquay conveyancing solicitors. Can you clarify whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I own a garden flat in Torquay, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Torquay with over 90 years remaining are worth £216,000. The ground rent is £50 levied per year. The lease ceases on 21st October 2089
With only 68 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 plus costs.
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 due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
I am looking to acquire a repossessed house in Torquay and the bank selling require completion within 28 days. Do property lawyers complete in this timeframe? Would it be better to use a local Torquay firm or an online conveyancer that professes to complete quickly?
Visit your Torquay shopping parade. Go in to a couple of solicitor’s offices and request to see a conveyancing solicitor for an estimate. Discuss your requirements and try and obtain assurances on deadlines. Appoint the firm that appears most trustworthy. Make sure to select a lawyer on the panel of lawyers approved by your bank.