Me and my partner are about to exchange buying a property in Babbacombe but as a result of wreckage from the recent storms I have managed to agree reparation from the seller in the sum of £2k taking the form of a reduction in the price. I had intended this to be addressed as part of the conveyancing process yet Santander are not allowing this. Why were they involved?
Your conveyancer being on a Santander conveyancing panel is obliged to disclose to Santander of any amendments to the purchase price. If you prohibit your lawyer to disclose the price change to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new solicitor for your conveyancing in Babbacombe.
Can your site be used to find a Conveyancing solicitor in Babbacombe even if I’m not purchasing or disposing of a house, for example where I intend to buy a shop in Babbacombe with a mortgage from The Mortgage Works?
Our search tool is primarily utilised to select domestic conveyancing solicitors in Babbacombe but we have listed towards the end of this page a selection of Babbacombe commercial conveyancing firms. You should speak with the solicitors directly to check if they can also act for The Mortgage Works
How does conveyancing in Babbacombe differ for newly converted properties?
Most buyers of new build premises in Babbacombe approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Babbacombe usually buy the land, 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 conveyancers 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 accustomed to new build conveyancing in Babbacombe or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Babbacombe is the location of the property. Can you shed any light on this issue?
Flying freeholds in Babbacombe are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Babbacombe you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Babbacombe may decide 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 residence.
Taking into account that I am about to part with hundreds of thousands of pounds on a house in Babbacombe I wish to talk to a solicitor about mytransaction prior to instructing the firm. Can this be arranged?
This is something that we encourage - we would be delighted to talk to you we do not take any clients on without you first talking to the lawyer who will be carrying out your conveyancing in Babbacombe.There is no ‘factory style conveyancing’ - each client is unique person, not a matter reference. The solicitors that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Babbacombe should be the figure that you are charged.
I work for a reputable estate agent office in Babbacombe where we have experienced a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Babbacombe conveyancing solicitors. Can you shed some light as to whether the seller of a flat can instigate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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 purchaser.
Babbacombe Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing
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The prefered form of lease structure is a share of the freehold. In this situation the leaseholders benefit from being in charge if their destiny and notwithstanding that a managing agent is usually retained if the building is bigger than a house conversion, the managing agent is directed by the tenants. Most Babbacombe leasehold properties will be liable to pay a service charge for maintenance of the block levied on behalf of the freeholder. Where you buy the apartment you will have to pay this contribution, normally in instalments throughout the year. This can vary from a couple of hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a rentcharge for you to pay yearly, this is usually not a exorbitant sum, say around £50-£100 but you should to enquire it because occasionally it can be many hundreds of pounds. Are there any major works on the horizon that will increase the maintenance fees?