We were just about to exchange contracts for a freehold house in Paignton. We have hit a problem. Our loan offer with Yorkshire Building Society expires on 27/5/2025 but the sellers are insisting on a completion date of 29/5/2025. Can one extend the loan offer?
The person best placed to address this concern is your lawyer who is in a position to calculate if he or she is corresponding with the mortgage company, seller’s conveyancers, selling agents or indeed all parties given the history of your conveyancing as of today.
Me and my brother own a semi-detached Edwardian house in Paignton. Conveyancing practitioner acted for me and Barclays . I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??
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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Paignton and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing lawyer who conducted the conveyancing.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Paignton is the location of the property. Can you offer any advice?
Flying freeholds in Paignton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Paignton you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Paignton may decide 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 property.
I need to instruct a conveyancing solicitor for my conveyancing in Paignton. I happened to land on a web site which seems to have the ideal offering If it is possible to get all this stuff done via phone that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I've found a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Paignton. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
The majority of houses in Paignton are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Paignton in which case you should be looking for a Paignton conveyancing practitioner and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.
I inherited a garden flat in Paignton, conveyancing was carried out June 1999. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Paignton with over 90 years remaining are worth £181,000. The ground rent is £55 yearly. The lease runs out on 21st October 2076
You have 51 years unexpired the likely cost is going to range between £30,400 and £35,200 plus 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 comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
We are soon to acquiring a apartment in Paignton. Conveyancing is not over but we would like keep the amount we are are buying for confidential from the likes of Nestoria. Is this achievable and how?
The Land Registry as a matter of law bound to specify price sold data on the official title for domestic properties nationwide including properties in Paignton. The Title Register is a public document, so HM Land Registry would be breaking the law if they failed to grant access to the register.
In essence you can make a request of HMLR to hide the price paid entry however the answer will be in the negative.