We are a couple about to sign contracts for a property in Salcombe. We encountered a problem. Our mortgage offer with Bank of Ireland expires on 7/7/2025 but the vendors are insisting on a completion date of 9/7/2025. Is it possible to prolong the mortgage expiry date?
The person best placed to deal with your concern is your solicitors who will assess if he or she is better off negotiating with the bank, seller’s lawyers, selling agents or indeed all parties given what has gone on in your transaction to date.
I am the registered owner of a freehold premises in Salcombe but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Salcombe and has limited impact for conveyancing in Salcombe 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
I require quick conveyancing in Salcombe as I am under a deadline to sign on the dotted line within 2 weeks. Fortunately I do not require a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
As you are not obtaining a mortgage you have the choice not to have searches conducted although no conveyancer would recommend that you don't. With lots of history conveyancing in Salcombe the following are instances of issues that can appear and therefore affect future mortgageability: Refused Planning Applications, Overdue Fees, Outstanding Grants, Road Schemes,...
About to purchase a new build flat in Salcombe. Conveyancing is daunting 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 are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Salcombe
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are surveyor prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Due to the guidance of my in-laws I had a survey completed on a property in Salcombe ahead of retaining conveyancers. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some banks may refuse to issue a loan on this type of house.
It varies from the lender to lender. HSBC has different requirements from Halifax. Should you wish to telephone us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Salcombe. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are novice buyers - agreed a price, but the property agent informed us that the owners will only issue a contract if we use their chosen solicitors as they need an ‘expedited deal’. We would rather use a high street conveyancer who is accustomed to conveyancing in Salcombe
It is unlikely the sellers are behind this. Should the seller desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is likely to cause more damage than good. Avoid the agents and go straight to the sellers and make sure they understand (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)but you intend to instruct your preferred Salcombe conveyancing lawyers - not the ones that will earn their estate agent a referral fee or achieve conveyancing targets demanded by HQ.