The vendors of the property we are looking to purchase have instructed a conveyancing solicitor in Littleport who has suggested a exclusivity contract with a down payment two thousand pounds. Are such agreements sensible?
This kind of preliminary agreement isn't frequently used in Littleport, conveyancers will often encourage clients away from them as they detract from the main conveyancing focus and if you end up losing your deposit then the lawyer is left exposed. In addition, there is no certainty that just because the seller has signed a lock out agreement they will sell to you. They may breach the agreement if they receive a big enough financial inducement to do so because a wronged purchaser with the benefit of a exclusivity agreement will still have to show losses as a consequence of the breach and these may not amount to the extra amount that the owner may secure by breaching the contract, however morally condemnable it undoubtedly is.
I own a freehold residence in Littleport yet pay rent, why is this and what is this?
It is rare for properties in Littleport and has limited impact for conveyancing in Littleport 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 generation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
I am planning to move property in May. Does my conveyancing solicitor communicate with the removal company on the completion day. On a separate note, can you recommend a removal company in Littleport. Conveyancing lawyer was found prior to coming across this website.
On the afternoon of completion you can pick up the house keys from the estate agent however this should only take place once the sellers solicitors advise the agent that the monies to complete are in and the keys can be released. You will need to tell the removal men that you are ready to move in. We do not recommend a particular removal organisation but can assist you in choosing a conveyancing in Littleport or a firm with expertise in conveyancing in Littleport.
When it comes to lenders such as Principality, do Littleport solicitors face a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
We previously instructed conveyancing lawyers with offices in Littleport on the Lloyds solicitor panel. They have just billed me a supplemental sum for the legal aspects of the Lloyds mortgage. Is this a supplemental conveyancing fee set by Lloyds?
As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your conveyancing practitioner is entitled to charge a fee for this. The fee is not dictated by Lloyds but by your Littleport property lawyer. Plenty of firms on the Lloyds panel will charge ’dealing with mortgage’ fee and others do not.
Should I be wary by estate agents that I am dealing with are suggesting an online conveyancing firm as opposed to a local Littleport conveyancing company?
As is the case with lots of service providers, often referrals from family and friends can be most helpful. Nevertheless there are lots of players in a conveyancing deal; estate agents, mortgage brokers and lenders may put forward lawyers to select. On occasion the conveyancers might be known to one of the organisations as being good in their field, but occasionally there may be a financial incentive behind the recommendation. You are free to select your preferred lawyer. However, bear in mind that some mortgage providers have an approved list of law firms you are obliged to use for the lender related work in your conveyancing.
I am on look out for some leasehold conveyancing in Littleport. Before diving in I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and most are in Littleport - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a 2 bed flat in Littleport, conveyancing having been completed June 2011. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Littleport with a long lease are worth £181,000. The ground rent is £55 yearly. The lease ends on 21st October 2077
With just 51 years unexpired we estimate the price of your lease extension to be between £30,400 and £35,200 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
How easy is it to change a solicitor as I need to find a Littleport based one who is on the lender conveyancing panel. Is it advisable to appoint a new law firm?
In the event that you have not formally instructed a solicitor to do anything for you 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 Littleport that you're thinking of instructing.