Do lenders provide you with an approved list of Exeter conveyancing solicitors? How do you know who is on the Virgin Money conveyancing panel?
Exeter conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
Me and my brother have a semi-detached Edwardian house in Exeter. Conveyancing solicitor represented me and Bank of Ireland. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Exeter and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing practitioner who conducted the conveyancing.
How does conveyancing in Exeter differ for new build properties?
Most buyers of new build premises in Exeter contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is finished. This is because house builders in Exeter typically purchase 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 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 Exeter or who has acted in the same development.
I have been on the look out for a flat up to £305k and found one near me in Exeter I like with open areas and station nearby, the downside is that it only has 52 years on the lease. I can't really find anything else in Exeter suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
My business partner and I are planning to lease a unit on a shopping parade. Can you recommend conveyancers offering no-sale-no charges for non-domestic conveyancing in Exeter for below £1,200?
We can recommend firms who host a wealth of experience of commercial conveyancing in Exeter, including the sale and purchase of businesses as well as simply premises. Whether you are looking to buy or dispose of a shop, pub, restaurant, office, retail unit or a whole business we will put you in touch with the right firm. Regarding the costs these will vary based on the structure and nuances of the deal. Let us have your details or telephone so as to enable us to provide you with comprehensive commercial conveyancing quote.
My husband and I may need to let out our Exeter basement flat for a while due to a career opportunity. We used a Exeter conveyancing firm in 2004 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Exeter do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
Leasehold Conveyancing in Exeter - Examples of Questions you should ask Prior to Purchasing
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Most Exeter leasehold flats will incur a service bill for maintenance of the block set on behalf of the freeholder. Should you purchase the property you will have to meet this liability, usually periodically throughout the year. This could differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a rentcharge to be met annual, this is usually not a large amount, say around £50-£100 but you should to enquire it because sometimes it could be surprisingly expensive. Is there a share of the freehold? The answer will be helpful as a) areas could result in problems in the block as the common areas may start to deteriorate where maintenance are not paid for b) if the tenants have an issue with the running of the building you will wish to know about it