We decided to go with a high street lawyer for my conveyancing in Leegomery last week. Reviewing the terms of engagement I seewe are responsible for fees even where the transaction does not complete. Should I go with them or use an internet lawyer advertising no move no charge conveyancing in Leegomery?
It is usually a trade off in that if "No Completion No Fee" is available then the fee levels will tend to be be higher to offset those cases that do not go ahead. Dont forget that these arrangements rarely protect you from expenses e.g. Leegomery conveyancing search charges.
I own a freehold property in Leegomery but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Leegomery and has limited impact for conveyancing in Leegomery 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 establishment of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
We're in Leegomery, First timers purchasing with a mortgage (lender is Bank of Ireland , and our solicitor is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Will our solicitor be making enquiries regarding flooding during the conveyancing in Leegomery.
Flooding is a growing risk for solicitors conducting conveyancing in Leegomery. Some people will buy a property in Leegomery, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, but there are a number of searches that may be carried out by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Leegomery. The standard information supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the vendor to discover whether the premises has suffered from flooding. If the residence has been flooded in past and is not notified by the owner, then a buyer could issue a claim for damages resulting from an inaccurate reply. The purchaser’s conveyancers should also conduct an enviro report. This will indicate if there is any known flood risk. If so, more detailed inquiries will need to be made.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Leegomery is where the house is located. Can you offer any guidance?
Flying freeholds in Leegomery are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Leegomery you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Leegomery may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I have just appointed agents to market my garden apartment in Leegomery. Conveyancing is yet to be initiated, but I have recently received a quarterly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as usual because all rents and service charges should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I own a 1 bedroom flat in Leegomery, conveyancing having been completed in 1997. Can you work out an approximate cost of a lease extension? Comparable properties in Leegomery with over 90 years remaining are worth £211,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2092
You have 67 years unexpired we estimate the price of your lease extension to range between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.