I just bought a house at auction in Plympton. Conveyancing is required. What happens now?

Given that you are now legally bound yourself to purchase you should retain a conveyancing practitioner as a matter of priority as you will have a pending a drop dead date to complete the deal. Every auction property will ordinarily have a bespoke legal set of papers. This should include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You should hand this to your appointed conveyancing solicitor as soon as possible. You also need to ensure that that you have the requisite funding in place to complete the transaction on the set completion date.

I am the sole beneficiary of my late grandmother’s will and I have everything in my name alone, including the house in Plympton. The Plympton property was put into my name in December. I plan to dispose of the house. I understand that there is a CML six month 'rule', meaning my proprietorship will be regarded the same way as if I'd bought the property in December. Do I have to wait 6 months to sell?

The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. Most lenders would take a pragmatic view as this clause is principally there to pick up on the purchase and immediately sell or the flipping of properties.

Intending to buy a house in Plympton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Clydesdale conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Plympton solicitor is on the Clydesdale conveyancing panel.

I need some quick conveyancing in Plympton as I am faced with an ultimatum to complete inside 3 weeks. Thankfully I do not need a mortgage. Is it possible to decline from having conveyancing searches to save money and time?

As you are are a mortgage free purchaser you have the choice not to have searches carried out although no law firm would advise that you don't. Drawing on years of experience of conveyancing in Plympton the following are instances of what can appear and therefore affect the marketability of the property: Enforcement Actions, Overdue Fees, Outstanding Grants, Railway Schemes,...

It has been three months since my purchase conveyancing in Plympton completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one close by in Plympton I like with amenity areas and transport links in the vicinity, however it's only got 61 remaining years left on the lease. There is not much else in Plympton for this price, so just wondered if I would be making a mistake buying a short lease?

Should you need a home loan the shortness of the lease will likely be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.

My wife and I purchased a leasehold house in Plympton. Conveyancing and Bank of Ireland mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Plympton who acted for me is not around. What should I do?

The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Plympton conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Leasehold Conveyancing in Plympton - Sample of Queries Prior to Purchasing

If a Plympton lease has fewer than 80 years it will have adverse implications on the salability of the apartment. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and it is worth finding out how much this will be. For most Plymptonlease extensions you would need to own the premises for 24 months before you are entitled to carry out a lease extension. Are any of leasehold owners in dispute over their service charge payments?