Can you explain why leasehold purchase conveyancing in Babbacombe is more expensive?
The conveyancing fees on a leasehold property in Babbacombe is inevitably higher than on a freehold residence. This is due to the supplemental work required in communicating with the freeholder and management company to collate the evidence about whether the rent and maintenance fee have been paid and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the block.
My grandfather passed away last year and as sole heir and executor I was left the house in Babbacombe. The house had a small mortgage left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this allowed?
Given you plan to re-mortgage then Virgin Money will insist on your using a conveyancer on the Virgin Money conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Virgin Money conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Virgin Money mortgage is registered as a charge at the Land Registry.
What is the difference between a licensed conveyancer and conveyancing solicitor in Babbacombe
There are many recorded licenced Conveyancers in Babbacombe and Solicitor partnerships in Babbacombe offering conveyancing We would stress that both are regulated professionals specialising in the legal work in transferring property. Both can handle associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I am aiming to move property in January. Does my conveyancing solicitor update the removal company on the day of completion. Incidentally, can you recommend a removal company in Babbacombe. Conveyancing firm was organised before I stumbled across your website.
On the day of completion you can pick up the keys from the estate agent however this should only take place when the vendors lawyers inform the agent that they have the completion monies and the keys can be collected. You should advise the removal men that they can start moving you in. We are not in a position to recommend a particular removal organisation but can help you locate a conveyancing in Babbacombe or a lawyer with expertise in conveyancing in Babbacombe.
I am the single recipient of my late father’s will and I have everything in my name now, including the house in Babbacombe. Conveyancing formalities meant that the Land Registry date was in September. I plan to dispose of the house. I do know about the Mortgage Lenders 6 month 'rule', which means that my proprietorship could be regarded the same way as if I'd bought the house in September. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. How practical a view banks take of it, depend on the lender as this clause is principally there to capture subsales or the wholesaling and assigning of property.
I appreciate that there are debates on Chancel Insurance on online forums. Do I require this when buying a property in Babbacombe? or Apparently there is an ancient law that could mean that house owners living in a parish church boundary will be compelled to contribute towards maintenance to the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Babbacombe?
Unless a prior purchase of the property completed post 12 October 2013 you may expect solicitors carrying out conveyancing in Babbacombe to continue to recommend a chancel search and or insurance against a claim.
I am buying a new build house in Babbacombe benefiting from help to buy. The developers refused to move on the price so I negotiated 6k of extras instead. The sale representative told me not inform my solicitor about the deal as it would put at risk my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a quick, no chain conveyancing. Babbacombe is where the house is located. Is there any guidance you can impart?
Flying freeholds in Babbacombe are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Babbacombe you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Babbacombe may determine 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 property.