We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to use their panel solicitor as I would prefer to appoint a Kingsbridge based conveyancing firm?
You should check but the chances are that appoint one of their panel lawyers where you want the "fee-free" incentive. Contact the lender and determine if they allow a monetary alternative. Some mortgage companies have previously offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Kingsbridge.
I am due to move property in September. Does my conveyancing solicitor call the removal company on the day of completion. On a separate note, can you put forward a removal company in Kingsbridge. Conveyancing firm was found prior to coming across this site.
On the afternoon of completion you will need to pick up the keys from your selling agent however this can only happen after the vendors lawyers advise the agent that they acknowledge receipt of the completion payment and the keys can be collected. Subsequently you should advise the removal company that you are ready to move in. We do not suggest a specific removal company but can help you find a conveyancing in Kingsbridge or a lawyer with expertise in conveyancing in Kingsbridge.
When it comes to lenders such as HSBC, do Kingsbridge property lawyers incur a yearly amount to be on the conveyancing panel?
We are unaware of any mortgage company fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Kingsbridge solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Kingsbridge surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I have been on the look out for a leasehold apartment up to £195,000 and found one near me in Kingsbridge I like with a park and railway links nearby, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Kingsbridge in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan the shortness of the lease will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
What does commercial conveyancing in Kingsbridge cover?
Non domestic conveyancing in Kingsbridge covers a wide array of advice, given by qualified solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
Should I use a Kingsbridge conveyancing solicitor who is local to the property I am purchasing? An old friend can perform the legal formalities but they are based 300kilometers away.
The primary upside of using a high street Kingsbridge conveyancing firm is that you can attend the office to sign paperwork, present your ID and pester them where appropriate. They will also have local intelligence which is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and on the whole were impressed that should outweigh using an unfamiliar Kingsbridge conveyancing lawyer solely due to them being Kingsbridge based.
I am employed by a busy estate agent office in Kingsbridge where we have experienced a few leasehold sales put at risk due to short leases. I have received inconsistent advice from local Kingsbridge conveyancing solicitors. Please can you clarify whether the vendor of a flat can commence the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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.
Leasehold Conveyancing in Kingsbridge - Examples of Questions you should ask before buying
What is the annual maintenance fee and ground rent? The answer will be important as a) areas could result in problems for the building as the communal areas may start to deteriorate where repairs are not paid for b) if the tenants have an issue with the managing agents you will wish to have full disclosure Does the lease have onerous restrictions?