I plan on acquiring a maisonette in Salcombe. My lawyer has never been on on the bank approved panel. Is it possible for me to appoint my Salcombe conveyancing solicitor even though they are not on the mortgage company panel of approved conveyancing solicitors?
Your options include
- Complete the deal with your preferred Salcombe conveyancer but your lender will undoubtedly instruct a conveyancer on their approved panel. The net result is additional cost and probable interruption.
- Appoint a new conveyancer to conduct the conveyancing, ensuring that they are on the lender conveyancing panel.
- Convince your property lawyer to seek to join the mortgage company panel
Should my conveyancer be asking questions about flooding during the conveyancing in Salcombe.
Flooding is a growing risk for lawyers specialising in conveyancing in Salcombe. Plenty of people will purchase a house in Salcombe, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to offer advice on flood risk, however there are a numerous searches that may be initiated by the purchaser or on a buyer’s behalf which will figure out the risks in Salcombe. The conventional set of property information forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the seller to discover if the property has suffered from flooding. If the residence has been flooded in past and is not revealed by the vendor, then a buyer may bring a claim for damages as a result of such an incorrect reply. A purchaser’s solicitors may also carry out an enviro search. This should reveal whether there is any known flood risk. If so, further investigations will need to be made.
Just had an offer accepted on a new build apartment in Salcombe. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Salcombe
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan.
Over the last few months I have been searching for a ground for flat up to £305k and identified one near me in Salcombe I like with amenity areas and station nearby, however it's only got 52 remaining years left on the lease. There is not much else in Salcombe for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will likely be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
Do I need to be concerned that estate agents that I am dealing with are recommending an internet conveyancing firm rather than a local Salcombe conveyancing firm?
As with lots of service providers, often recommendations from relatives can be worth their weight in gold. Nevertheless there are numerous players in a conveyancing transaction; estate agents, financial adviser and banks may put forward solicitors to instruct. Sometimes these lawyers might be known to one of the organisations as experts in their field, but sometimes there behind the scenes financial incentive behind the endorsement. You have the discretion to select your own lawyer. However, bear in mind that most lenders operate an approved list of law firms you have to use for the lender aspect of your house move.
My brother has urged me to use his lawyers for conveyancing in Salcombe. Should I use them?
Much as we are happy to recommend a Salcombe conveyancing lawyer it’s preferable to find a conveyancing practitioner is to get feedback from friends or relatives who have used the solicitor you're considering.