We are a couple about to exchange contracts for a leasehold flat in Plympton. We encountered a snag. Our mortgage offer with The Royal Bank of Scotland expires on 17/6/2024 but the vendors are suggesting a completion date of 19/6/2024. Can one extend the loan offer?
The best person to address this question is your conveyancer who will determine whether he or she is better off negotiating with the mortgage broker, owner’s representatives, property agents or indeed all parties taking into account what has gone on in your house move as of today.
five months have elapsed following my purchase conveyancing in Plympton completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing my first flat in Plympton benefiting from help to buy. The developers would not reduce the amount so I negotiated 6k of fixtures and fittings instead. The property agent told me not disclose to my lawyer about the deal as it may affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Plympton is the location of the property. Can you shed any light on this issue?
Flying freeholds in Plympton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Plympton you must be sure that your lawyer goes 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 Plympton 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 residence.
I am looking for a conveyancing solicitor in Plympton for my house move. Can I review a firm’s complaints history with the profession’s regulator?
Anyone can search for published Solicitor Regulator Association (SRA) decisions stemming from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The regulator could monitor telephone calls for training reasons.
I am on look out for some leasehold conveyancing in Plympton. Before I get started I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Plympton - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Plympton Leasehold Conveyancing - A selection of Queries Prior to buying
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Are any of leasehold owners in arrears of their service charge payments? The best form of lease structure is if the freehold interest is owned by the leaseholders. In this situation the tenants benefit from control and although a managing agent is often retained if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.