Why do I have to pay up front when it comes to conveyancing in Exmouth?
If you are buying a property in Exmouth your lawyer will ask you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the sale price then this should be asked for immediately prior to contracts are exchanged. The final balance that is due will be payable shortly before completion.
I am considering remortgaging my house in Exmouth, does my lawyer need to be on the Virgin Money Conveyancing panel?
In theory, you could use a solicitor that is not on the Virgin Money conveyancing panel, but Virgin Money would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I am the only beneficiary of my late father’s will and I have everything in my name alone, including the house in Exmouth. Conveyancing formalities meant that the Land Registry date was in December. I plan to dispose of the property. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership may be regarded the same way as if I'd bought the property in December. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. Some banks would take a practical view as this obligation principally exists to pick up on the purchase and immediately sell or the wholesaling and assigning of properties.
When it comes to lenders such as Lloyds, do Exmouth conveyancers incur a fee to be on the list of approved solicitors?
We are unaware of any lender fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
We have agreed to purchase a house in Exmouth. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender HSBC be concerned?
As your lender is HSBC your lawyer must check the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for HSBC. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and solicitors are required to report to HSBC where a lease fails to comply with these specifications. The specifications relate to the installation of panels on properties countrywide and is not isolated to Exmouth.
What is different about your site and alternative online quote calculators for conveyancing in Exmouth?
At this site secure a conveyancing quote via a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Exmouth. Unlike many estate agents and brokerage sites we do not have referral arrangements with solicitors. Many agents and online brokers 'recommend' the firm paying the most kickback, not the best value conveyancing in Exmouth
Back In 2008, I bought a leasehold flat in Exmouth. Conveyancing and Barclays Direct mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Exmouth who acted for me is not around. What should I do?
First contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Exmouth conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Exmouth Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
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Best to be warned if a new roof is being put on or some other significant cost is pending to be shared by the tenants and will materially increase the the service fees or result in a specific payment. For most Exmouth leaseholds the cost for major works tend not to be built into the service charges, albeit that there some managing agents in Exmouth require tenants to contribute towards a reserve fund and this is used to offset against major works. What is the service charge and ground rent on the apartment?
Me and my husband are selling a Exmouth ground floor flat we inherited seven years ago in 2009. I have over 12 years conveyancing know-how and, now retired, wish to carry out my own legal work. The buyer's conveyancing practitioner has informed me that their bank will not allow us to do our own conveyancing insisting the funds to be sent to a solicitor's bank account.
Lending requirements to property lawyers from all mainstream lenders specify that If the vendor is not legally represented the purchaser’s lawyers should check whether the mortgage company needs to be told so that a decision can be made as to whether they are willing to proceed.