The vendors of the property we are looking to purchase have appointed a conveyancing firm in Little Hampton who has recommended a preliminary contract with a deposit of 5k. Are such agreements recommended for Little Hampton conveyancing transactions?
Lock out contracts are contracts between a home owner and purchaser granting the buyer a ‘clear field’ to the sale of the property within a prescribed time frame. Essentially, an exclusivity is a document specifying that you will have a contract at a later date being the contract for the actual sale. It tends to be utilised for buyer assurance though in some cases, the proprietor may stand to benefit from such agreements as well. There are various pros and cons to using an agreement but you should to check with your conveyancer but note that it may result in costing you extra in conveyancing fees. In light of these reasons these agreements are rare in relation to conveyancing in Little Hampton.
I purchased a freehold house in Little Hampton but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Little Hampton and has limited impact for conveyancing in Little Hampton 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.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
My bank has recommended a law firm on their panel based in Little Hampton but I would rather choose a conveyancing lawyer in Little Hampton or nearer to where I live. Are you able to assist?
Far from all Little Hampton conveyancing practices are on all lender’s conveyancing panel. Use the above find an approved solicitor tool to locate a Little Hampton conveyancing conveyancer on the on the lender panel.
Have just purchased a repossessed house at auction in Little Hampton. Conveyancing is needed. What happens now?
Having exchanged you must retain a conveyancing lawyer as a matter of urgency as you are faced with a pending deadline in which to complete the transaction. An auction property will have a corresponding auction pack. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold property the auction papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to a leasehold property. You must hand this to the conveyancer instructed by you as soon as possible. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
Are all Little Hampton Conveyancing Quality Solicitors on the Santander conveyancing panel?
A selection of lenders now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
We previously instructed solicitors with offices in Little Hampton on the Clydesdale solicitor panel. They are now charging me an additional charge for dealing with the Clydesdale mortgage. Is this a supplemental conveyancing fee set by Clydesdale?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your lawyer can charge a fee for this. This charge is not set by Clydesdale but by your Little Hampton property lawyer. Numerous firms on the Clydesdale panel will levy ’dealing with mortgage’ fee but plenty of practices incorporate it on their overall fee.
I have been on the look out for a ground for flat up to £195,000 and identified one close by in Little Hampton I like with a park and station in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in Little Hampton in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
How easy is it to change a solicitor as I need to find a Little Hampton based one who is on the bank conveyancing panel. Is it advisable to appoint a new law firm?
If you haven't yet instructed a conveyancer to start work and at this stage simply received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Little Hampton that you're thinking of instructing.