I purchased a freehold residence in Exmouth but still pay rent, why is this and what is this?
It’s unusual for properties in Exmouth and has limited impact for conveyancing in Exmouth 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 many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
Do the Building Society Association intend to launch a online directory to to identify solicitors on the Melton Mowbray Building Society conveyancing panel for example in Exmouth?
We are not aware of any intention on the part of the BSA to develop such a register.
Forgive me if this question is silly but I am unexperienced as a 1st time purchaser of a garden flat in Exmouth. Do I pick up the keys to the premises on completion from my lawyer? If so, I will find a High Street conveyancing solicitor in Exmouth?
On the day of completion you do not need to attend the conveyancers office in Exmouth. Conveyancing lawyers for you will arrange to send the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you will be invited to pick up the keys from the selling Agents and start moving into the property. Usually this occurs early afternoon.
My husband and I have organised the release of further monies on our mortgage from HSBC as we want to conduct renovations to our house in Exmouth. Do we need to select a nearby Exmouth solicitor on the HSBC conveyancing panel to handle the legals?
HSBC would not normally require a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC list.
I have decided to exercise my right to buy my property in Exmouth off the council. I have a mortgage offer with Clydesdale. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use 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 Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
I have recentlybecome aware that Wolstenholmes have closed. They conducted my conveyancing in Exmouth for a purchase of a leasehold flat 10 months ago. How can I establish that my home is in my name in the name of the previous owner?
The easiest way to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Exmouth conveyancing specialists.
How does conveyancing in Exmouth differ for new build properties?
Most buyers of new build or newly converted property in Exmouth come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is built. This is because developers in Exmouth typically purchase the site, 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 property lawyers 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 Exmouth or who has acted in the same development.
Why is it not possible to complete our conveyancing in Exmouth on a public holiday?
Because on completion the money needs to be transferred electronically between the banks of the buyer and owner’s property lawyer and currently this can only happen on a working day. It is not possible to complete on a saturday or sunday either.