I am getting a mortgage offer from Nat West. I hope to use a Licensed Conveyancer in Downton. Does the Nat West Solicitor panel allow for Licensed Conveyancers?
The Nat West conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I am the registered owner of a freehold premises in Downton but nevertheless charged rent, why is this and what is this?
It is rare for properties in Downton and has limited impact for conveyancing in Downton 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 creation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I am buying a new build flat in Downton. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Downton you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Downton.
I have been pointed in your direction by two or three local selling agents in Downton to select a conveyancer using your seach tool. Is there a financial upside for Estate Agents to promote your site rather than a competitor’s?
We don’t give any referral fee for pointing buyers and sellers in our direction. We thought it would be too underhand a fee because members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am using a search engine for the words conveyancing in Downton it shows results of numerous conveyancersin the vicinity. How do I determine which is the right property lawyer for me?
The preferential way of choosing the right conveyancer is via trusted testimonial, so enquire of friends and family who have purchased a property in Downton or a respected estate agent or mortgage broker. Costs for conveyancing in Downton differ, so it's advisable to obtain at least four quotes from varying types of companies. Make sure that you know that the costs are assured not to increase.
Looking forward to sign contracts shortly on a leasehold property in Downton. Conveyancing solicitors have said that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Downton should include some of the following:
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Does the lease require carpeting throughout thus preventing wood flooring? Your lawyers should enable you to have an understanding of the insurance requirements Where does the liability rest to repair and maintain the building. It is essential that you know who is duty bound to repair and maintenance of all parts of the block and communal areas Alterations to the flat The landlord’s rights to access the flat. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided.
I inherited a 1st floor flat in Downton, conveyancing was carried out in 2007. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Downton with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ceases on 21st October 2084
With just 60 years remaining on your lease we estimate the premium for your lease extension to be between £20,000 and £23,000 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.