Am I correct in assuming that the fact that my conveyancer in Billingham is not on my bank's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Billingham conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
I am the registered owner of a freehold property in Billingham yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Billingham and has limited impact for conveyancing in Billingham 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
I have todaybecome aware that Arc property Solicitors have been shut down. They conducted my conveyancing in Billingham for a purchase of a freehold house 10 months ago. How can I check that the property is not still registered in the name of the former proprietor?
The easiest way to check if the property is in your name, 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 Billingham conveyancing specialists.
Just had an offer accepted on a new build apartment in Billingham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Billingham
-
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. 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. 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Planning to exchange soon on a leasehold property in Billingham. Conveyancing solicitors inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Billingham should include some of the following:
-
Does the lease require carpeting throughout thus preventing wood flooring? specifics of the parties to the lease, for instance these could be the (you), head lessor, freeholder It needs to be made clear to you if the lease permits you to change or improve aspects of the property- you must know whether any restrictions relates to all alterations or limited to structural alteration, and whether consent is required You should have a good understanding of the building insurance requirements if lease caters for for a reserve account for major works?
I inherited a 1st floor flat in Billingham, conveyancing was carried out August 2000. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Billingham with an extended lease are worth £260,000. The ground rent is £45 charged once a year. The lease comes to an end on 21st October 2099
With 74 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
Builders have put forward a lawyer and I've sought an estimate from them. They are nearly £400 less expensive than my own Billingham conveyancer. What's the catch?
Builders frequently have lists of solicitors who are quick and who know the developer’s contract and solicitor. Plenty of developers offer an inducement to choose a preferred conveyancing practitioner for this reason, any increased charges can be avoided and a builder will not suggest a conveyancing warehouse and run the risk of having the conveyancing stall when they require an exchange in 28 days. The argument for not opting for the suggested lawyer is that they may be hesitant to fight for your interests at the risk of alienating the developer. If you worry that this may be the situation you should keep with your high street Billingham solicitor.