We opted for a local lawyer for my conveyancing in Lyme Regis last week. Reviewing the Terms and Conditions I seewe are on the hook for costs even if our purchase aborts. Would I be best advised to select a web based solicitor practice offering no move no charge conveyancing in Lyme Regis?
It is usually a trade off in that if "No Completion No Fee" is advertised then the fee levels will tend to be be more expensive to cover those conveyances that do not go ahead. Do bear in mind that these promotions rarely cover outlay for example Lyme Regis conveyancing search charges.
I am the registered owner of a freehold residence in Lyme Regis yet charged rent, why is this and what is this?
It is rare for properties in Lyme Regis and has limited impact for conveyancing in Lyme Regis 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 creation of new rentcharges from 1977 onwards.
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.
Various web forums that I have visited warn that are the main reason for hinderance in Lyme Regis house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in Lyme Regis.
Me and my brother have a semi-detached Edwardian property in Lyme Regis. Conveyancing practitioner represented me and TSB. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Lyme Regis and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with your conveyancing practitioner who carried out the work.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Lyme Regis is the location of the property. What do you suggest?
Flying freeholds in Lyme Regis are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lyme Regis you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lyme Regis may ascertain 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 property.
Is it possible to switch solicitor as I need to appoint one who is on the Lloyds TSB Bank conveyancing panel. I was using a local conveyancing solicitor in Lyme Regis round the corner but she is not approved by Lloyds TSB Bank
We will our best to assist in finding you a conveyancing solicitor in Lyme Regis on the Lloyds TSB Bank panel. Please note that the law firms that we on the directory do not pay us commission if you instruct them and are authorised and regulated by the SRA who oversee all conveyancing solicitors in Lyme Regis. In utilising search facility on this page, you can contrast charges for conveyancing solicitors in Lyme Regis and beyond.