My Brixham conveyancer has uncovered an inconsistency when comparing the surveyor’s assumptions in the valuation report and what is revealed within the title deeds. My lawyer informs me that he must ensure that the lender is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
It is is a decade since I purchased my property in Brixham. Conveyancing lawyers have recently been appointed on the sale but I can't find my deeds. Will this jeopardise the sale?
You need not be too concerned. First there is a possibility that the deeds will be kept by your mortgage company or they may still be with the solicitor who handled your purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. Nearly all conveyancing in Brixham relates to registered property but in the rare situation where your property is unregistered it is more tricky but is resolvable.
Should commercial conveyancing searches reveal impending roadworks that could impact a commercial land in Brixham?
Its becoming the norm that commercial conveyancing solicitors in Brixham will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Brixham. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Brixham.
For each commercial conveyancing transaction in Brixham it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could cause delays to Brixham commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Brixham.
How does conveyancing in Brixham differ for newly converted properties?
Most buyers of new build or newly converted property in Brixham approach us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Brixham typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Brixham or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Brixham before instructing conveyancers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some lenders may refuse to grant a mortgage on this type of house.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. If you contact us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Brixham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Brixham to see if the conveyancing will be more expensive.
I work for a reputable estate agent office in Brixham where we have witnessed a few flat sales derailed due to short leases. I have been given contradictory information from local Brixham conveyancing firms. Could you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer 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 extend the lease informally by agreement with the landlord 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.
Brixham Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing
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Are any of leasehold owners in dispute over their service charge liability? Plenty Brixham leasehold apartments will incur a service bill for maintenance of the block levied on behalf of the management company. If you purchase the apartment you will have to meet this liability, usually in instalments throughout the year. This could be anything from two or three hundred pounds to thousands of pounds for blocks with lifts and large common areas. There will also be a rentcharge for you to pay annual, this is usually not a large sum, say about £25-£75 but you need to enquire it because on occasion it can be many hundreds of pounds. Is the freehold reversion owned collectively by the tenants?