We selected a Felixstowe based lawyer for our conveyancing in Felixstowe today. Looking through the Terms it is apparent thatI am responsible for costs even where the transaction does not complete. Should I go with them or select a web based conveyancing brokerage promoting no-sale-no-fee conveyancing in Felixstowe?
It is usually ‘give and take’ in that if "No Completion No Fee" is advertised then the conveyancing charges will tend to be be uplifted to counteract those transactions that do not go ahead. Also remember that such arrangements tend not to protect you from expenses such as Felixstowe conveyancing search expenses.
I own a freehold residence in Felixstowe yet pay rent, why is this and what is this?
It’s unusual for properties in Felixstowe and has limited impact for conveyancing in Felixstowe 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 new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
I am buying a garden flat in Felixstowe. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Felixstowe you will have to appoint a solicitor on your lender'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 Felixstowe.
Taking into account that I will soon spend hundreds of thousands of pounds on a terraced house in Felixstowe I wish to have a conversation with the solicitor concerning thehouse move before appointing the firm. Is this something that you can arrange?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you speaking to the conveyancer who will be doing your conveyancing in Felixstowe.There is no ‘factory style conveyancing’ - every client is unique individual, not a matter reference. The practices that we put you in touch with believe that the fees you are quoted for your conveyancing in Felixstowe should be the figure that you are charged.
We are a couple of weeks into a leasehold purchase having been recommend to solicitors by the local agent to carry out the conveyancing in Felixstowe. We are not happy. Could you help me find new solicitors?
They would have to be very bad to suggest diss instructing them. Has the loan offer been generated? In the event that it has you will need to inform them of the new contact details and get the mortgage documents are re-sent. Your new solicitor ideally should be on the banks panel to avoid added charges and delays. That should be your first question of the new solicitors. Our find a solicitor tool should help you find a bank approved solicitor for your conveyancing in Felixstowe
I've recently bought a leasehold flat in Felixstowe. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a garden flat in Felixstowe, conveyancing was carried out October 2004. How much will my lease extension cost? Corresponding properties in Felixstowe with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease finishes on 21st October 2080
With only 55 years left to run the likely cost is going to be between £31,400 and £36,200 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.