Souldappointing a Torquay conveyancing practice make the legal transfer of property easier?
Torquay is a unique place, where regional experience counts for a lot. The laid-back lifestyle has an upside – just not for your house move. The property lawyers that we work with host specialist Torquay intelligence with a positive, hands-onapproach that ensures everything runs smoothly. It will certainly help that they enjoy long term relationships with mortgage brokers, estate agents, surveyors and counterpart Torquay conveyancing practices
The deeds to my house can not be found. The conveyancers who handled the conveyancing in Torquay 5 years ago are no longer around. What do I do?
You no longer need to have the physical deeds to evidence that you are the owner of your registered land or property, given that the Land Registry hold details of all registered land or property electronically.
How does conveyancing in Torquay differ for new build properties?
Most buyers of new build premises in Torquay approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is finished. This is because developers in Torquay usually purchase the real estate, 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 Torquay or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Torquay ahead of appointing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies will refuse to grant a mortgage on this type of home.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you contact us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Torquay. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Torquay to see if the conveyancing will be more expensive.
I work for a reputable estate agency in Torquay where we see a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Torquay conveyancing firms. Could you confirm whether the seller of a flat can start the lease extension formalities for the buyer?
As long as the seller has been the owner 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. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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 buyer.
I acquired a basement flat in Torquay, conveyancing formalities finalised in 2005. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Torquay with over 90 years remaining are worth £179,000. The ground rent is £65 invoiced every year. The lease ceases on 21st October 2077
With only 57 years remaining on your lease the likely cost is going to span between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
I am buying a garden maisonette in Torquay. Conveyancing solicitor has been waiting for, from the owner, building insurance paperwork. Earlier today I was advised that the owner needs to forward the insurance documents for the flat above as well. Why does my conveyancer need to check the insurance for the other flat? Is it really necessary? We have been waiting for the last fortnight…
It is not impossible in leasehold conveyancing in Torquay to find Conveyancing in Torquay in a minority of cases reveals that the lease requires the tenant's to insure their individual flats rather than the freeholder insuring the complete premises - which is clearly better. Do clarify with your conveyancer but it would seem that your lawyer is seeking to verify that the whole building is insured. Insuring a ground floor residence is no help when it comes to rebuilding after a fire if the 1st floor cannot be reinstated due to lack of insurance.