I have a decision in principle. The lender mentioned the home loan came with free conveyancing. Does this mean I have to use their panel solicitor as I would prefer to appoint a Topsham based conveyancing firm?

Do check but the chances are that give you one of their panel solicitors where you take up the "fee-free" offer. Call the bank and ask if they make available a cash alternative. In the past a few lenders offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor in Topsham.

The estate agent has sent us the confirmation of our purchase of a new build flat in Topsham. 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.

Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Topsham

Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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. Forfeiture - bankruptcy or liquidation must not apply under this provision.

I'm converting the mortgage on my current house to a BTL mortgage with The Royal Bank of Scotland and intend to use the remaining equity as a down payment on another house. The location we are talking about is Topsham. Will your lawyers be able to act for both sets of lenders and tie in the transactions?

Make use of our comparison tool on this page to be sure that the conveyancers are on the appropriate lender panels. Having checked that they are the conveyancer should be able to connect the two deals but you should have a chat with you solicitor and make clear your expectations and needs.

I today plan to offer on a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Topsham. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Topsham ?

Most houses in Topsham are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Topsham in which case you should be looking for a Topsham conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your conveyancer will appraise you on the various issues.

Leasehold Conveyancing in Topsham - Sample of Questions you should ask Prior to Purchasing

How much is the ground rent and service charge? This question is useful as a) areas could result in problems in the block as the communal areas may start to deteriorate if services remain unpaid b) if the leasehold owners have a dispute with the managing agents you will need to know about it Plenty Topsham leasehold flats will incur a service bill for the upkeep of the building set by the landlord. If you buy the property you will have to pay this contribution, normally quarterly accross the year. This could differ from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a ground rent to be met yearly, normally this is not a exorbitant figure, say about £50-£100 but you need to check it because occasionally it can be prohibitively expensive.

How and when do I cover the costs of stamp duty payable for my house transaction in Topsham?

The majority of lawyers tend to complete a stamp duty return for you as part of your Topsham purchase transaction for signature. On completion your property lawyer will submit your Land Transaction Return Form to the Tax Authorities and - as long as they have the funds - settle any Stamp Duty liability for you.