I am need of leasehold conveyancing for an apartment in a fairly new development (6 years built) in Exminster. Almost all the appartments have already been occupied. Is it really necessary to order local searches for my conveyancing in Exminster?
If you are buying a property with the assistance of a loan, your bank will insist on some (many) of the searches so you'll have no choice. If not, then Exminster conveyancing searches are optional. Your lawyer, will 'advise', perhaps strongly, that you should have the searches done, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you insist that your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in Exminster.
I own a freehold house in Exminster but still charged rent, why is this and what is this?
It’s unusual for properties in Exminster and has limited impact for conveyancing in Exminster but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
My wife and I buying a 3 bedroom semi in Exminster. We would like to carry out an extension to the side at the property.Will the conveyancing process include enquiries to ascertain if these alterations are prohibited?
Your property lawyer should check the deeds as conveyancing in Exminster will occasionally identify restrictions in the title deeds which prevent categories of changes or necessitated the permission of another owner. Some extensions call for local authority planning permissions and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
We were going to get a AIP from Aldermore this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Aldermore recommend any Exminster solicitors on the Aldermore conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Exminster solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
Our sealed bid on a semi in Exminster has been agreed to, the vendors do however have a connected purchase. The sellers have put an offer on somewhere, but it’s not been accepted yet, and are looking at other flats in the pipeline. I have instructed a local conveyancing solicitor in Exminster. What should be my next step? At what point do I apply for the mortgage with Aldermore?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx £1k, then survey, Exminster conveyancing search costs, etc). First, you must ensure that your conveyancing practitioner is on the Aldermore conveyancing panel. Regarding the next steps this very much depends on the specifics of your transaction, motivation for the property and on the state of the market. During a hot market some home buyers would apply for a home loan with Aldermore and arrange for the valuation and only if it was satisfactory would they pay their conveyancing practitioner to proceed with the conveyancing in Exminster.
I purchased a terraced Victorian house in Exminster. Conveyancing solicitor represented me and Halifax. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read 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 Exminster and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing solicitor who completed the work.
I am buying my first flat in Exminster benefiting from help to buy. The sellers refused to move on the price so I negotiated 6k of extras instead. The sale representative suggested that I not reveal to my solicitor about this deal as it could impact my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Should I be suspicious that estate agents that I am dealing with are recommending a web based conveyancing firm as opposed to a High Street Exminster conveyancing firm?
As with many professional services, often recommendations from connections can be extremely useful or valuable. But there are lots of players in a conveyancing deal; estate agents, financial adviser and lenders might all suggest conveyancers to use. Sometimes the conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there is an underlying financial incentive behind the endorsement. You have the discretion to select your own conveyancer. Don't forget that most mortgage providers have an approved list of law firms you must use for the lender related work in your home move.