My previous conveyancer has sent a quote for £995 for fixed fee conveyancing in Henfield. I’m looking to sell a Georgian detached home for £300,000. Are these conveyancing fees excessive? Is it above the average fee for conveyancing in Henfield?
The quote is fractionally on the steep side. If you shop around you may be able to trim some of the cost by say a hundred pounds. That being said, you mightlive to regret opting for an an unknown solicitor. Don't forget to be sure the solicitor can also act for your mortgage company. Do use our search tool to select a Henfield conveyancing company on the lender’s approved list of lawyers which can often include conveyancing solicitors in Henfield.
My wife and I are due to exchange on the purchase of a house in Henfield but as a result of damage from the recent storms I have was able negotiate recompense from the seller in the sum of three thousand pounds taking the form of a reduction in the price. I had intended this to be addressed as part of the conveyancing process but Principality are not allowing this. Why were they informed?
Any solicitor being on a Principality conveyancing panel is duty bound to inform Principality of any variations to the sale price. If you prohibit your conveyancing practitioner to disclose the price change to Principality then they would have to discontinue acting for you. In addition, Principality and you would have to appoint a new conveyancing practitioner for your conveyancing in Henfield.
I purchased a freehold premises in Henfield but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Henfield and has limited impact for conveyancing in Henfield 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 creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
We wanted to use a property lawyer in Henfield for our home move. Our financial adviser has since advised us that our bank Coventry Building Society won't deal with them. Surely this is unduly restrictive?
Banks on the whole restrict either the category or the volume of conveyancing solicitors on their approved list of lawyers. Typical examples of such criteria being that a firm must not be a sole practitioner. In addition to restricting the type of firm, some have limited the amount of firms they allow to represent them. Be aware that Coventry Building Society have no responsibility for the quality of advice provided by any member of Coventry Building Society Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels a few years ago even though there are differing opinions regarding the extent of solicitor engagement in some of that fraud. Figures from the Land Registry indicate that hundreds of law firms, including some in or near Henfield only execute very few conveyances per annum.
Despite weeks of looking the Title Certificate and documents to our house are lost. The lawyers who conducted the conveyancing in Henfield 4 years ago no longer exist. Will I be able to sell the house?
Assuming the title is registered the information relating to your ownership will be retained by HMLR with a Title Number. It is possible to carry out a search at the Land Registry, identify your house and obtain current copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will usually hold a certified copy of the Registered Lease and again, a copy can be retrieved for twenty pounds.
I am employed by a long established estate agency in Henfield where we have witnessed a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Henfield conveyancing solicitors. Please can you clarify whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a split level flat in Henfield, conveyancing having been completed 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Henfield with a long lease are worth £165,000. The ground rent is £50 invoiced annually. The lease expires on 21st October 2103
You have 78 years unexpired we estimate the price of your lease extension to be between £7,600 and £8,800 as well as legals.
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 due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.