My husband and I are hoping to buy a home in Ivybridge and have appointed a Ivybridge conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Britannia have this morning contacted us to inform me that there is now an issue as our Ivybridge conveyancer is not on their conveyancing panel. What do we do from here?
If you are buying a property needing a mortgage it is standard for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Ivybridge lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
What can a local search inform me concerning the house my wife and I purchasing in Ivybridge?
Ivybridge conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search organisations for example PSG The local search plays an important role in most Ivybridge conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your property. The search should provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Ivybridge I like with amenity areas and railway links nearby, however it only has 52 years unexpired on the lease. There is not much else in Ivybridge in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the shortness of the lease will be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
I am looking into buying my first house which is in Ivybridge and I am already nervous. I couldn't find anything specific about Ivybridge. Conveyancing will be needed in due course but do you know about the Ivybridge area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Ivybridge. In the meantime here are some basic statistics that we found
I need to appoint a conveyancing solicitor for remortgage conveyancing in Ivybridge. I have discover a web site which appears to be the ideal answer If there is a chance to get all formalities done via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I own a leasehold flat in Ivybridge. Conveyancing and Britannia mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Ivybridge who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Ivybridge conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Ivybridge Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing
Who takes charge for maintaining and repairing the block? How many of the leaseholders are in arrears for their service charge payments? How much is the maintenance charge and ground rent on the apartment?