Find a Lender-Approved Local Conveyancer in Exmouth

Is there a reason why leasehold purchase conveyancing in Exmouth costs more?

In summary, leasehold conveyancing in Exmouth and elsewhere usually requires extra work compared to freehold transactions. This includes lease investigation, communicating with the landlord about serving required notices, securing up-to-date service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first granted.

I have an AIP. The bank mentioned the loan came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would much rather appoint a Exmouth based conveyancing firm?

Do check but the the probability is that allocate you one of their panel conveyancers if you want the "fee-free" incentive. Speak to the lender to ask if they offer you a cash alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Exmouth.

I am purchasing a new build house in Exmouth with a loan from HSBC Bank. The builders would not reduce the price so I negotiated 6k of extras instead. The house builders rep suggested that I not inform my lawyer about the side-deal as it would affect my mortgage with HSBC 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.

I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Exmouth is where the house is located. What do you suggest?

Flying freeholds in Exmouth are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Exmouth you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Exmouth may ascertain 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.

Completion is due on the disposal of our £150,000 garden flat in Exmouth in 10 days. The landlords agents has quoted £396 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Exmouth?

Exmouth conveyancing on leasehold apartments ordinarily involves administration charges raised by managing agents :

Completing conveyancing due diligence questions Where consent is required before sale in Exmouth Supplying insurance information Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Exmouth leasehold premises is £350. For Exmouth conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

I inherited a leasehold flat in Exmouth, conveyancing was carried out in 2009. How much will my lease extension cost? Similar flats in Exmouth with an extended lease are worth £227,000. The ground rent is £50 per annum. The lease expires on 21st October 2098

With only 72 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.

How and when do I cover the costs of stamp duty due for my purchase in Exmouth?

The lawyer should complete a stamp duty return on your behalf as part of your Exmouth purchase transaction for signature. After completion your solicitor will submit the STL application to the Tax Authorities and - assuming they have the money - pay any tax bill liability on your behalf.