I went with a high street lawyer for our conveyancing in Plympton yesterday. Upon checking the official terms of business it is apparent thatI am liable for costs even if our purchase doesn't happen. Should I go with them or select an on-line solicitor practice advertising no move no charge conveyancing in Plympton?
It is usually ‘give and take’ in that if "No Sale No Fee" is available then the fee levels will tend to be be more expensive to neutralise the conveyances that do not go ahead. Please beware that such deals rarely protect you from expenditure such your Plympton conveyancing search fees.
I purchased a freehold residence in Plympton but still charged rent, why is this and what is this?
It’s unusual for properties in Plympton and has limited impact for conveyancing in Plympton 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.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
We are buying a property in Plympton. I might seem paranoid but how we can trust a conveyancer? On the day of competition we have to deposit money into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We previously selected conveyancing lawyers located in Plympton on the TSB solicitor panel. They have just invoiced me an additional sum for dealing with the TSB mortgage. Is this an additional conveyancing fee set by TSB?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your lawyer is entitled to levy a fee for this. The fee is not set by TSB but by your Plympton solicitor. Plenty of firms on the TSB panel will quote ’dealing with mortgage’ fee and others do not.
I can not fathom if my bank requires a lease extension. I have telephoned my Plympton building society branch on a couple of occasions and was told it does not impact the mortgage offer and they would lend. My Plympton conveyancing solicitor - who is on the lender conveyancing panel- called to say that they would not lend based on their specific requirements. Who do I believe?
Your lawyer has to follow the Council of Mortgage Lenders’ Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
How does conveyancing in Plympton differ for newly converted properties?
Most buyers of new build residence in Plympton come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is constructed. This is because builders in Plympton tend to buy 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 conveyancers 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 Plympton or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Plympton is where the house is located. Can you shed any light on this issue?
Flying freeholds in Plympton are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Plympton you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Plympton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am looking to sell my property. My past lawyers closed down. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Plympton if that affects matters.
You should use our search tool to help you find a solicitor for your conveyancing in Plympton. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.