I am progressing with the sale of my maisonette in Exmouth and the EA has just telephoned to advise that the buyers are changing their solicitor. I am told that this is due to the fact that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a big named mortgage company only work with certain lawyers rather the firm that they want to choose for their conveyancing in Exmouth ?
Banks have always had panels of law firms they are content to work with, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Lenders point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.
My partner and I are acquiring our first house. The solicitor has messagedto see if we wish to purchase additional conveyancing searches. We are really unsure what's relevant for conveyancing in Exmouth
The extent of Exmouth conveyancing searches depends entirely on the property, the location, the probability of any of these risks, your knowledge of the area and risks, your overall appetite to risk. What matters is that you properly understand what information the searches could provide. Then you can make a decision if you consider that you need that search. If in doubt, ask your lawyer to advise.
How does conveyancing in Exmouth differ for new build properties?
Most buyers of new build premises in Exmouth approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is completed. This is because builders in Exmouth usually acquire 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 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 used to new build conveyancing in Exmouth or who has acted in the same development.
How can the Landlord & Tenant Act 1954 impact my commercial property in Exmouth and how can you help?
The 1954 Act affords protection to business leaseholders, giving them the dueness to apply to court for a continuation of occupancy when the lease reaches an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and assist with commercial conveyancing in Exmouth
In searching the world wide web for the phrase on line conveyancing in Exmouth it shows results of many property lawyersin the area. How do I determine which is the suitable conveyancer for the sale of my house?
The ideal method of finding the right conveyancer is through a trusted recommendation, so ask colleagues and family who have purchased a property in Exmouth or a respected estate agent or financial adviser. Costs for conveyancing in Exmouth vary, so it's advisable to secure at least four estimates from varying types of law firms. Dont forget to clarify that the charges are assured not to escalate.
I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Exmouth. Conveyancing advisers have are about to be appointed. Will they explain the issues?
The majority of houses in Exmouth are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Exmouth in which case you should be looking for a Exmouth conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should report to you on the legal implications.