It is a dozen years since I acquired my house in Budleigh Salterton. Conveyancing solicitors have recently been instructed on the sale but I can't locate the title deeds. Is this a problem?
Don’t worry too much. Firstly there is a chance that the deeds will be retained by the lender or they may be in the possession of the conveyancers who oversaw the purchase. Secondly in most cases the title will be registered at the land registry and you will be able to establish that you own the property by your conveyancing solicitors obtaining up to date copy of the land registers. Most conveyancing in Budleigh Salterton involves registered property but in the unlikely event that your home is unregistered it is more tricky but is not insurmountable.
The Budleigh Salterton conveyancing solicitors that I appointed last week on my purchase in Budleigh Salterton have suddenly closed. They were on acting for me because I had to have a lawyer on the Co-operative conveyancing panel and my family Budleigh Salterton lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Co-operative conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
My wife and I are purchasing a property in Budleigh Salterton. I might seem paranoid but how we can trust a lawyer? On completion day we will need to send money into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
If you had a top tip for choosing a conveyancing solicitor in Budleigh Salterton what would it be?
We would encourage you not to go for the lowest Budleigh Salterton conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a Budleigh Salterton lawyer on the Co-operative panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
How does conveyancing in Budleigh Salterton differ for newly converted properties?
Most buyers of new build property in Budleigh Salterton approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Budleigh Salterton typically buy the site, 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 conveyancing solicitors 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 Budleigh Salterton or who has acted in the same development.
My business partner and I are looking to take an assignment of a lease of a shop on the high street. Can you recommend solicitors offering no-move-no costs for non-domestic conveyancing in Budleigh Salterton for less than £2000?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Budleigh Salterton, including the sale and purchase of businesses as well as simply property. Whether you are intending to buy or sell a shop, pub, restaurant, office, retail unit or a whole business we can find you the right solicitor. As for the fees this will depend on the structure and heads of terms of the proposed transaction. Please provide us with your contact information or call us so that we may supply you with comprehensive commercial conveyancing quote.
I am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Budleigh Salterton. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Budleigh Salterton ?
The majority of houses in Budleigh Salterton are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Budleigh Salterton in which case you should be shopping around for a Budleigh Salterton conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer will advise you fully on all the issues.
I am the registered owner of a studio flat in Budleigh Salterton, conveyancing formalities finalised 4 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Budleigh Salterton with a long lease are worth £202,000. The ground rent is £60 charged once a year. The lease ceases on 21st October 2081
With 56 years unexpired we estimate the price of your lease extension to span between £29,500 and £34,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.