We're in Budleigh Salterton, First timers buying with a mortgage (lender is Principality , and our lawyer is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My partner and I are planning on selling our home in Budleigh Salterton and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any high street Budleigh Salterton lawyer would know this is not the case. For the life of me I don't know why the buyers are using a factory type conveyancing practice as opposed to a conveyancing solicitor in Budleigh Salterton. Having lived in Budleigh Salterton for three years we know of no issue. Should we get in touch with our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
The deeds to our home can not be found. The solicitors who conducted the conveyancing in Budleigh Salterton 10 years ago have long since closed. What are my next steps?
Assuming the title is registered the information relating to your proprietorship will be held by HMLR with a Title Number. It is possible to conduct a search at the Land Registry, find your house and get current copies of the Registered Entries for a small fee. If the property is Leasehold then the Land Registry will usually hold a certified copy of the Registered Lease and again, a copy can be ordered for twenty pounds.
I'm buying my first flat in Budleigh Salterton with a loan from Coventry Building Society. The builders refused to reduce the price so I negotiated 6k of extras instead. The property agent advised me not disclose to my lawyer about this side-deal as it would put at risk my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a flat up to £245,000 and found one round the corner in Budleigh Salterton I like with amenity areas and railway links in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in Budleigh Salterton in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan that many years will be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 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 and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.