We are buying our first house. The lawyer has texted usto enquire if we would like to purchase extra conveyancing searches. We are really unsure what's recommended for conveyancing in Port Isaac
The extent of Port Isaac conveyancing searches should be dictated primarily on the premises, the location, the possibility of any of these risks, your knowledge of the locality and risks, your overall attitude to risk. What is important is that you adequately appreciate what information the searches could give you. You may then make a decision if you personally think you need that information. Should you be uncertain, ask the conveyancer to recommend.
It is a dozen years since I acquired my home in Port Isaac. Conveyancing lawyers have just been instructed on the sale but I am unable to track down the title documents. Is this a problem?
You need not be too concerned. Firstly the deeds may be with the lender or they may be archived with the lawyers who oversaw the purchase. Secondly in most cases the property will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. Almost all conveyancing in Port Isaac relates to registered property but in the rare situation where your home is unregistered it adds to the complexity but is resolvable.
We are planning to purchase with Melton Mowbray Building Society. We have called around locally but am unable to find a Port Isaac conveyancing firm on the Melton Mowbray Building Society panel. Can you help?
Feel free to take advantage of the find a lender approved solicitor tool on this web page. Pick the building society and type Port Isaac or your location and you will discover a number of lawyer offices in Port Isaac or nearest you.
I am the only recipient of my late grandmother’s estate and I have everything in my name now, including the my former home in Port Isaac. Conveyancing formalities meant that the Land Registry date was in March. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship could be considered the same way as though I had purchased the property in March. Do I have to wait half a year to sell?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. Most mortgage companies would take a practical view as this clause is primarily there to pick up on the purchase and immediately sell or the quick reselling of properties.
When it comes to mortgage companies such as RBS, do Port Isaac solicitors incur an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I have decided to exercise my right to buy my property in Port Isaac off the council. I have a mortgage offer with Virgin Money. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
My husband and I are new on the property ladder - agreed a price, but the estate agent has warned us that the seller will only proceed if we instruct their preferred lawyers as they need a ‘quick sale’. My instinct tells me that we should use a local conveyancer accustomed to conveyancing in Port Isaac
It is unlikely the vendors are driving this. Should the vendor desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Bypass the agents and go straight to the sellers and explain that (a)you are serious buyers (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you wish to move quickly (e)but you are going to instruct your preferred Port Isaac conveyancing lawyers - not the ones that will earn their negotiator at the agency a kickback or hit his conveyancing figures pre-set by head office.
I am employed by a long established estate agent office in Port Isaac where we have witnessed a number of leasehold sales derailed as a result of short leases. I have received conflicting advice from local Port Isaac conveyancing solicitors. Please can you confirm whether the vendor of a flat can initiate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Leasehold Conveyancing in Port Isaac - Examples of Questions you should consider before Purchasing
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Who are the managing agents? Is the freehold owned jointly by the tenants? Does the lease have in excess of 90 years remaining?