Me and my wife are purchasing property in Ivybridge. My Conveyancer has never been on on the lender solicitor list. Am I still permitted to continue with my Ivybridge conveyancing solicitor even though they are not on the lender approved list?
Your options include
- Carry on with your chosen Ivybridge conveyancing practitioner but your lender will need to retain a conveyancer on their approved panel. The net result is additional cost together with probable frustration.
- Appoint a fresh solicitor to act in the purchase, ensuring that they are on the lender conveyancing panel.
- Convince your solicitor to attempt to join the bank panel
I have a decision in principle. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel lawyer as I would much rather use a Ivybridge based conveyancing firm?
Do check but the chances are that give you one of their panel conveyancers should you want the "fee-free" offer. Call the lender and check if they offer you a cash alternative. Some banks have previously offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Ivybridge.
I require fast conveyancing in Ivybridge as I am faced with an ultimatum to complete inside one month. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save money and time?
As you are are a mortgage free buyer you have the choice not to do searches although no conveyancer would recommend that you don't. With plenty of history conveyancing in Ivybridge the following are examples of issues that can show up and adversely impact future mortgageability: Enforcement Notices, Overdue Charges, Outstanding Grants, Unadopted Roads,...
My wife and I have a 4 bedroom Edwardian house in Ivybridge. Conveyancing practitioner represented me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ivybridge and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing lawyer who completed the work.
I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Ivybridge I like with open areas and station nearby, however it only has 61 years on the lease. I can't really find anything else in Ivybridge for this price, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the shortness of the lease may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
Do you have any top tips for leasehold conveyancing in Ivybridge with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Ivybridge can be reduced where you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors. If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Ivybridge state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord acquiescing to such changes. Where you dont have the consents to hand do not contact the landlord without contacting your lawyer first. You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. Many landlords or Management Companies in Ivybridge charge for supplying management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Ivybridge.
Ivybridge Leasehold Conveyancing - A selection of Questions you should consider before buying
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Who manages the building? Does the lease include onerous restrictions? How much is the ground rent and service charge?