3 months have gone by since my purchase conveyancing in Umberleigh concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

How does conveyancing in Umberleigh differ for new build properties?

Most buyers of new build premises in Umberleigh approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because house builders in Umberleigh typically 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 Umberleigh or who has acted in the same development.

Over the last few months I have been searching for a flat up to £305k and identified one round the corner in Umberleigh I like with a park and transport links nearby, however it's only got 49 remaining years left on the lease. I can't really find anything else in Umberleigh for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?

Should you require a home loan the shortness of the lease may be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.

What makes your site different to other web based conveyancing solicitors when it comes to conveyancing in Umberleigh?

At this site secure an accurate costs illustration from a Solicitor or Licensed Conveyancer that appreciates the issues for your conveyancing in Umberleigh. As opposed to estate agents and many comparison sites we are not in the business of charging firms a fee if you select them for your home move in Umberleigh

Last August I purchased a leasehold flat in Umberleigh. Am I liable to pay service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Umberleigh Leasehold Conveyancing - Examples of Queries before buying

It is important to be aware if window replacement or some other significant cost is anticipated to be shared amongst the leasehold owners and could well dramatically increase the the maintenance costs or require a specific invoice. In the main the outlay for major works tend not to be included within maintenance charges, although there some managing agents in Umberleigh require tenants to pay into a reserve fund created for the specific purpose of establishing a fund for major repairs or maintenance. How much is the maintenance charge and ground rent on the apartment?