Would the conveyancing solicitors that are recommend handle auction conveyancing in Lacock?
We know of a number of niche practitioners we can put you in touch with those specialising in auction conveyancing. Lacock is just one of our areas of where our lawyers are based.
I purchased a freehold residence in Lacock but still pay rent, why is this and what is this?
It’s unusual for properties in Lacock and has limited impact for conveyancing in Lacock 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 many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
We had appointed conveyancing lawyers located in Lacock on the Yorkshire BS solicitor panel. They are now charging me a separate fee for handling the Yorkshire BS mortgage. Is this an additional conveyancing fee set by Yorkshire BS?
Provided it is contained in their Terms and Conditions or Quote then yes your lawyer may levy a fee for this. The charge is not dictated by Yorkshire BS but by your Lacock solicitor. Plenty of firms on the Yorkshire BS panel will charge ’dealing with mortgage’ fee but many firms include it on their overall fee.
My wife and I have organised a further advance on our mortgage from Clydesdale as we intend to conduct improvements to our house in Lacock. Are we obliged to choose a local Lacock solicitor on the Clydesdale conveyancing panel to handle the paperwork?
Clydesdale would not normally require a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale conveyancing panel.
My fiancee and I are in the throws of looking at flats in Lacock and I am now considering a potential offer. Is it premature to have a solicitor in place? I am planning to take a home loan with Skipton.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are seeking a mortgage with Skipton, make sure you remember to check that your lawyer is on the Skipton conveyancing panel.
Will our lawyer be raising enquiries concerning flooding during the conveyancing in Lacock.
Flooding is a growing risk for solicitors dealing with homes in Lacock. Some people will purchase a property in Lacock, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, but there are a number of searches that may be undertaken by the purchaser or on a buyer’s behalf which can give them a better appreciation of the risks in Lacock. The conventional set of information given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the seller to discover whether the property has ever been flooded. In the event that the property has been flooded in past which is not notified by the vendor, then a purchaser could commence a compensation claim as a result of such an incorrect reply. A buyer’s lawyers will also conduct an environmental report. This will indicate if there is a recorded flood risk. If so, additional investigations will need to be made.
I today plan to offer on a house that seems to meet my requirements, at a great price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Lacock. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Lacock are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. It is clear that you are purchasing in Lacock in which case you should be shopping around for a Lacock conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.
I acquired a leasehold flat in Lacock, conveyancing having been completed 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Lacock with a long lease are worth £186,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2077
With 52 years left to run we estimate the premium for your lease extension to range between £29,500 and £34,000 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.
I am buying a leasehold property in Lacock. Conveyancing quotes are coming in at around £1800. Does that seem right?
The average cost in 2014 for conveyancing in Lacock was £1,419 not including SDLT and HMLR charges.