My wife and I are buying a house in Yelverton. It might be a silly question but how we can trust a conveyancer? On completion day we have to put money into their account. What is the protection we have from them run away with our deposit?

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.

Have just purchased a repossessed house at auction in Yelverton. Conveyancing is necessary. What happens now?

Given that you have now to in every practical sense signed on the dotted line you will need to choose a conveyancing lawyer as a matter of urgency as you will have a tight a fixed date to complete the deal. An auction property will have a bespoke auction pack. This should include most,if not all of the paperwork that your solicitor requires. In the case of leasehold property the legal papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You must pass this on to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that you have funds in order to complete the transaction on the set completion date.

My husband and I have arranged a further advance on our mortgage from Coventry BS as we wish to conduct alterations to our property in Yelverton. Do we need to appoint a high street Yelverton solicitor on the Coventry BS conveyancing panel to deal with the paperwork?

Coventry BS would not normally appoint firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS list.

I have recentlybeen informed that Wolstenholmes have closed. They conducted my conveyancing in Yelverton for a purchase of a leasehold apartment 9 months ago. How can I establish that my home is in my name in the name of the former proprietor?

The quickest method to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Yelverton conveyancing specialists.

Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Yelverton I like with open areas and railway links nearby, the downside is that it only has 52 years on the lease. I can't really find anything else in Yelverton in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?

If you require a mortgage the shortness of the lease will be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.

I've recently bought a leasehold house in Yelverton. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Yelverton Leasehold Conveyancing - Sample of Queries before buying

Does the lease have more than 80 years remaining? Most Yelverton leasehold flats will incur a service bill for the upkeep of the block set by the freeholder. Should you acquire the property you will have to pay this contribution, usually in instalments during the year. This can differ from several hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a rentcharge for you to pay annual, normally this is not a significant figure, say approximately £50-£100 but you need to check as sometimes it could be many hundreds of pounds. What is the name of the managing agents?

Is it the case that all Yelverton solicitors on every lender conveyancing panel?

You can use our search tool or you can pop into your high street bank branch in Yelverton. the probability is that they will know some good conveyancing solicitors in Yelverton