I am need of leasehold conveyancing for an apartment in a fairly new development (seven years old) in Ivybridge. 95% of the appartments are already sold. Do I need carry out the neighbourhood searches as part of conveyancing in Ivybridge?
You would be opening yourself up to an unnecessary risk in not carrying out Ivybridge conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would absolutely advise in the strongest possible terms that your conveyancer conducts them. Where speed and cost are top of your issues you should discuss with your conveyancer about the options such as contingency insurance available to you
Completed the sale of my flat in Ivybridge last July but my buyer keeps whats apping every few hours to moan that her conveyancer is waiting to hear from mine. What are the post completion sale formalities now that I have sold?
After completion of your sale your conveyancer should send the transfer documentation and all supplemental paperwork to the purchaser's lawyers. Where relevant, your lawyer must also evidence that the legal charge in favour of the lender has been redeemed to the buyers lawyers. There is unlikely to be post completion requirements specific conveyancing in Ivybridge.
There are a variety of conveyancing solicitors in Ivybridge but how do I know who I should use?
Do not opt for the lowest Ivybridge conveyancing costs illustration. You really do get what you’re paying 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 know exactly what you’ll have to pay in ahead of time.
I am helping my niece sell her property in Ivybridge. Will the conveyancing solicitor commission an energy performance certificate or should I organise this?
Following the demise of Home Packs, energy performance certificates was left as a mandatory component of moving property. An energy assessment should be to hand in advance of the property being marketed. This is not as aspect of the sale process that law firms ordinarily arrange. Where you are using a Ivybridge conveyancing practitioner they might help arrange EPC’s due to their contacts with reputable local providers
We have agreed to purchase a house in Ivybridge. A rare aspect is that the roof has a solar panel. Clydesdale have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Clydesdale your lawyer must follow the conveyancing instructions contained in Section two of UK Finance Lenders’ Handbook for Clydesdale. The Council of Mortgage Lenders’ Handbook includes minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Clydesdale where a lease does not comply with these requirements. The requirements relate to the installation of panels on properties nationwide and is not limited to Ivybridge.
How does conveyancing in Ivybridge differ for newly converted properties?
Most buyers of new build premises in Ivybridge contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is completed. This is because developers in Ivybridge tend to purchase 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 property lawyers 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 Ivybridge or who has acted in the same development.
I'm converting the mortgage on my primary property to a BTL mortgage with Norwich and Peterborough Building Society and intend to use the remaining equity towards further property. The location we are looking at is Ivybridge. Will your conveyancers be able to act for the two mortgage companies and link together the transactions?
Make use of our search tool on this site to ensure that the conveyancers are on the relevant lender panels. Having checked that they are the conveyancer should be able to tie up the two transactions but you should talk with you lawyer and specify your desired outcome and requirements.
Do you have any advice for leasehold conveyancing in Ivybridge from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Ivybridge can be avoided if you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ lawyers. A minority of Ivybridge leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Ivybridge state that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord consenting to such alterations. Where you dont have the approvals in place do not contact the landlord without contacting your solicitor in advance. You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your conveyancers. A purchaser's lawyer will not be happy to advise their client to where the lease term is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.
I bought a 1 bedroom flat in Ivybridge, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Equivalent properties in Ivybridge with an extended lease are worth £176,000. The ground rent is £50 per annum. The lease comes to an end on 21st October 2105
With 80 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously 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.