I have just started taking steps with a view to swapping over from my current residential home loan to a BTL Coventry Building Society mortgage. The bank has said that I need a conveyancer as part of the process. I had a chat the same New Ferry conveyancing firm who who conducted the conveyancing when I first acquired the property. The pricing estimate sent of £550 is an eye-watering amount to do this as its a refinance than a sale or purchase.
The quote is slightly on the steep side. If you are prepared to expend time contrasting charges you could shave off some of the expense by say a hundred pounds. That being said, assuming were content with the conveyancing the firm provided you maylive to rue opting for an an unknown lawyer. If is important to check that the firm can also act for Coventry Building Society. You can utilise our search tool to find a New Ferry conveyancing firm on the Coventry Building Society approved list of lawyers, which can often include conveyancing solicitors in New Ferry.
I own a freehold residence in New Ferry but still invoiced for rent, why is this and what is this?
It’s unusual for properties in New Ferry and has limited impact for conveyancing in New Ferry 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh 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 will be extinguished.
Just acquired a terraced house in New Ferry , how long should it take for the Land Registry to record my title? My New Ferry conveyancing solicitor has been very slow, so I want to check the land registry aspects are dealt with.
As far as conveyancing in New Ferry is concerned, registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timescales can differ subject to the party submitting the application, whether it is in order and whether the Land registry must send notices to any other persons or bodies. Currently approximately 80% of such applications are fully addressed in less than three weeks but occasionally there can be longer delays. Historically registration is effected once the buyer has moved in to the premises so an expedited registration is not always primary concern but where it is urgent that the the registration takes place urgently then you or your lawyers could contact the land registry and explain the circumstances.
I have been recommended by a few property agents in New Ferry to locate a property lawyer using your seach tool. What’s the financial incentive for Estate Agents to recommend your lawyers ahead of alternative conveyancing organisations?
We don’t offer any commission for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am thinking of appointing a conveyancing practitioner in New Ferry for my home move. Is it possible to review a firm’s complaints history with the profession’s regulator?
You can find presented Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Go to Check a solicitor's record. For details Pre 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The SRA could monitor telephone calls for training requirements.
I work for a long established estate agent office in New Ferry where we see a number of flat sales put at risk due to short leases. I have been given contradictory information from local New Ferry conveyancing solicitors. Could you clarify whether the seller of a flat can commence the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I purchased a split level flat in New Ferry, conveyancing having been completed April 2012. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in New Ferry with an extended lease are worth £255,000. The average or mid-range amount of ground rent is £45 yearly. The lease comes to an end on 21st October 2097
With 73 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.