My partner and I are acquiring a newly built flat in Tavistock and my conveyancer is advising me that she is duty bound to the mortgage company to reveal incentives from the builder. I am nearing the developer’s deadline to exchange contracts and I have no desire to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am the registered owner of a freehold house in Tavistock but nevertheless charged rent, why is this and what is this?
It is rare for properties in Tavistock and has limited impact for conveyancing in Tavistock but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
We are aiming to move property in October. Should my conveyancing solicitor communicate with the removal company on the day of completion. As an aside, can you put forward a removal company in Tavistock. Conveyancing solicitor was found prior to coming across this site.
On the afternoon of completion you can pick up the keys from your selling agent however this can only be done once the vendors solicitors confirm to the agent that they acknowledge receipt of the completion payment and the keys can be handed over. After that you should tell the removal company that they can start moving you in. We are not in a position to recommend a specific removal organisation but can assist you in finding a conveyancing in Tavistock or a legal practice that specialises in conveyancing in Tavistock.
Last month we had a mortgage agreed in principle with Yorkshire BS. Tavistock conveyancing practitioners were appointed. How long does it take for Yorkshire BS to send the offer to the solicitor?
Some lenders take longer than others. Have Yorkshire BS conducted the survey? Have you informed Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Tavistock bank branch on numerous occasions and was informed it wasn't a problem and they will lend. My Tavistock conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend in accordance with their published requirements. I have no idea who is right.
Provided that the conveyancer is on the lender approved list, they must adhere to the Council of Mortgage Lenders’ Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
About to purchase a new build flat in Tavistock. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Tavistock
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Please supply a car parking plan. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are surveyor prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I am looking for a flat up to £305k and identified one round the corner in Tavistock I like with amenity areas and railway links nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Tavistock suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease will be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months 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 existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
In sourcing the internet for the phrase conveyancing in Tavistock it brings up many conveyancerslocally. How do I determine which is the right conveyancing solicitor for my move?
The best method of finding the right conveyancer is via trusted referral, so seek the counsel of colleagues and those you trust who have acquired a property in Tavistock or the local estate agent or mortgage broker. Costs for conveyancing in Tavistock differ, so it's sensible to secure a minimum of four fee estimates from varying types of solicitors. Make sure that you clarify that the fees are fixed.