Having been recommended your site we were going to appoint conveyancing solicitor in Old Ford recommended on your site but stumbled across some other costs illustrations via the web appear cheaper – why is this?
One can find plenty of conveyancing organisations advertising so-called £99 conveyancing, unfortunately it’s common in such cases for additionalcharges result in the completion bill mounting up beyond all recognition. In accordance with regulatory requirements charges listed in terms and conditions should be fair and reasonable and be applied The conveyancers that we put forward for conveyancing in Old Ford clearly state all charges for the property you intend tobuy.
I own a freehold residence in Old Ford yet pay rent, why is this and what is this?
It is rare for properties in Old Ford and has limited impact for conveyancing in Old Ford 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 from 1977 onwards.
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 dispensed with completely.
I am in the process of remortgaging my property in Old Ford, does my lawyer have to be on the Leeds Building Society Solicitor panel?
In theory, you could use a solicitor that is not on the Leeds Building Society conveyancing panel, but Leeds Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I'm purchasing a new build house in Old Ford with a mortgage from Birmingham Midshires. The sellers would not reduce the price so I negotiated 6k of additionals instead. The estate agent advised me not to tell my conveyancer about the side-deal as it will jeopardize my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Old Ford is the location of the property. Is there any guidance you can impart?
Flying freeholds in Old Ford are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Old Ford you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Old Ford 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 property.
My husband and I are first time buyers - had an offer accepted, yet the selling agent has warned us that the vendor will only proceed if we appoint their preferred conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local conveyancer used to conveyancing in Old Ford
We suspect that the owner is unaware of this ultimatum. Should the vendor desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Avoid the agents and go straight to the sellers and make sure they understand (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you will continue to instruct your preferred Old Ford conveyancing lawyers - rather thanthose that will provide the negotiator at the agency a referral fee or hit his conveyancing thresholds demanded by HQ.