I was referred a lawyer who has given a fee calculation of £1400 for no sale no fee conveyancing in Camden Town. I’m selling a Edwardian property for £125,000. This seems overpriced. Is it above what I should be paying for conveyancing in Camden Town?
The estimate does seem a tad steep. If you shop around you might trim some of the expense by say £100 plus VAT. On the other hand, you maycome to regret opting for an an untested solicitor. Remember to ensure that the solicitor can represent your mortgage company. You can utilise our search tool to select a Camden Town conveyancing company on the banks conveyancing panel which can often include conveyancing solicitors in Camden Town.
I own a freehold residence in Camden Town yet pay rent, why is this and what is this?
It’s unusual for properties in Camden Town and has limited impact for conveyancing in Camden Town 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I own a terraced Georgian property in Camden Town. Conveyancing solicitor represented me and The Mortgage Works. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to review 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 Camden Town and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing practitioner who carried out the work.
How does conveyancing in Camden Town differ for newly converted properties?
Most buyers of new build or newly converted property in Camden Town contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Camden Town typically buy the land, 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 property lawyers 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 Camden Town or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Camden Town prior to retaining lawyers. I have been advised that there is a flying freehold overhang to the house. The surveyor has said that some lenders will refuse to grant a loan on this type of premises.
It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. If you contact us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Camden Town. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Camden Town to see if the conveyancing costs will increase in light of this.
My partner has recommend that I use his lawyers for conveyancing in Camden Town. Should I choose my own solicitor?
Much as we are happy to recommend a Camden Town conveyancing lawyer the ideal way to choose a conveyancing solicitor is to get feedback from friends or family who have actually experience in using the firm you're are thinking of instructing.