Forgive me if this question is silly but I am unexperienced as a 1st time buyer of a two bedroom flat in Salcombe. Do I receive the keys to the premises on the completion date from my solicitor? If this is the case, I will use a High Street conveyancing solicitor in Salcombe?
On the day of completion you do not need to go to the conveyancers office in Salcombe. Your solicitors will electronically transfer the purchase money to the owner’s lawyers, and once they have received this, you will be called to receive the keys from the selling Agents and move into your new home. Usually this happens early afternoon.
We had appointed conveyancers with offices in Salcombe on the Nationwide solicitor panel. They are now charging me a supplemental amount for dealing with the Nationwide mortgage. Is this an additional conveyancing fee specified by Nationwide?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your solicitor can levy a fee for this. The fee is not dictated by Nationwide but by your Salcombe property lawyer. Some firms on the Nationwide panel will levy ’dealing with mortgage’ fee and others do not.
I am currently in the process of buying my council flat in Salcombe. I have a mortgage offer with Co-operative. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 Co-operative, you will need to appoint a solicitor on the Co-operative conveyancing panel.
I need some expedited conveyancing in Salcombe as I am faced with an ultimatum to exchange contracts within one month. Fortunately I do not need a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
As you are not getting a mortgage you have the choice not to have searches conducted although no lawyer would advise that you don't. With plenty of history conveyancing in Salcombe the following are examples of what can show up and adversely impact future saleability: Enforcement Actions, Outstanding Fees, Overdue Grants, Railway Schemes,...
I used Stirling Law a few years ago for my conveyancing in Salcombe. Now, I need the documents but the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Salcombe of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying a new build flat in Salcombe. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Salcombe
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There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Can you provide any top tips for leasehold conveyancing in Salcombe from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Salcombe can be avoided where you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ representatives. If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to ongoing. If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Salcombe leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord acquiescing to such alterations. If you dont have the consents in place do not contact the landlord without contacting your solicitor before hand. The majority of freeholders or Management Companies in Salcombe charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Salcombe. You may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking 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 essential at an early stage 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.
I bought a leasehold flat in Salcombe, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Salcombe with over 90 years remaining are worth £227,000. The ground rent is £50 levied per year. The lease comes to an end on 21st October 2096
With only 71 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.
I bought a property in Salcombe last 23/1/2024 and to date it is still not registered with HMLR. It is part of a new estate and my conveyancing practitioner told me that it can take twelve months to complete the registration formalities. I have called HM Land Registry directly and they have informed me the original application was cancelled due to questions not being addressed in time. Should I be concerned?
Call your property lawyer - Where you are unsatisfied with the responses, look up their internal complaints protocol and escalate your problem to a Partner. Registrations for Salcombe conveyancing are not known to be particularly slow.