I was recommended to a conveyancer who has sent a quote for £1700 for fixed fee conveyancing in Aigburth. I am selling a newly refurbished house for £300,000. Are these estimated fees excessive? Is it above the average fee for conveyancing in Aigburth?
The costs illustration is fractionally on the steep side. If you shop around you might reduce the fees marginally by say a hundred pounds. On the other hand, you couldlive to regret choosing an a cheaper solicitor. Remember to be sure that the solicitor can represent your bank. You can employ our comparison tool to locate a Aigburth conveyancing practice on the banks member panel which can often include conveyancing solicitors in Aigburth.
I purchased a freehold property in Aigburth but still pay rent, why is this and what is this?
It is rare for properties in Aigburth and has limited impact for conveyancing in Aigburth but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
Do I have to attend the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Aigburth so that I can pop in to their offices if necessary.
Nowadays approved lawyers for banks undertake their communications through the post, internet or over phone calls. This means that they can undertake the legal work for your home move regardless of where you live in England or Wales. Nevertheless you can see if you can still book an appointment to visit conveyancing lawyer if you prefer.
Me and my brother have a 4 bedroom Edwardian property in Aigburth. Conveyancing practitioner acted for me and The Mortgage Works. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold under the exact same property. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Aigburth and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with your conveyancing lawyer who conducted the work.
How does conveyancing in Aigburth differ for new build properties?
Most buyers of new build or newly converted property in Aigburth 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 house builders in Aigburth usually acquire 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 Aigburth or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one near me in Aigburth I like with open areas and transport links nearby, however it only has 51 years unexpired on the lease. I can't really find anything else in Aigburth in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the remaining unexpired lease term may be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.