We are planning to move home in June. Does my conveyancing solicitor update the removal company on the day of completion. As an aside, can you put forward a removal company in Cornwall. Conveyancing solicitor was organised before I stumbled across your page.
On the day of completion you will need to collect the keys from your property agent but this should only occur after the previous owners lawyers confirm to the agent that they have the completion monies and the keys can be given over. You can tell the removal company that they can start moving you in. As a matter of policy we do not suggest a specific removal organisation but can assist you in choosing a residential property solicitor in Cornwall or a firm with expertise in conveyancing in Cornwall.
When it comes to lenders such as Barclays, do Cornwall lawyers incur an annual charge to be on the conveyancing panel?
We are unaware of any lender fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
The mortgage over my property is with Lloyds for my property in Cornwall. Conveyancing was finalised 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Lloyds?
Your original mortgage agreement with Lloyds will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Lloyds’s mortgage conditions. It may be that Lloyds will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds directly. It should not be necessary to do this via a Lloyds conveyancing panel lawyer.
I purchased my house on 9 October and my personal details is yet to be registered. Any reason for this? My conveyancing solicitor in Cornwall advises it should be registered inside ten days. Are titles in Cornwall uniquely lengthy to register?
There is nothing unique about conveyancing in Cornwall registration formalities. Rather than based on location, timeframes can vary according to who lodges the application, whether there are errors and if the Land registry must send notices to any other persons or bodies. At present roughly 80% of such applications are completed within 12 days but some can be subject to extensive delays. Historically registration takes place once the purchaser is living at the property so an expedited registration is not always an essential issue yet if it is urgent that the the registration takes place urgently then you or your solicitor can communicate with the Registry to express the reasoning for an expedited registration.
About to purchase a new build flat in Cornwall. Conveyancing is a frightening process 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 is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Cornwall
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Please confirm the Lease plans are surveyor prepared. 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. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I have been pointed in your direction by a couple of local selling agents in Cornwall to get a quote from a property lawyer on your site. What’s the financial advantage for Estate Agents to promote your lawyers ahead of alternative conveyancing organisations?
We refuse to give any referral fee for sending work in our direction. We thought it would be too underhand a fee as home movers will think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
I am attracted to a couple of apartments in Cornwall both have in the region of forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Cornwall is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of purchasers and mortgage companies, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Cornwall conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I inherited a 1 bedroom flat in Cornwall, conveyancing was carried out in 2005. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Cornwall with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2086
With 62 years remaining on your lease we estimate the premium for your lease extension to range between £17,100 and £19,800 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
Do online conveyancing organisations do everything a high street Cornwall solicitor does or do I still need to use a solicitor for the final stages for my conveyancing in Cornwall?
If you instruct an online conveyancer they should undertake all the tasks your Cornwall solicitor would cover.