The sellers of the property we are looking to purchase have appointed a conveyancing firm in Seaforth who has suggested a lock out contract with a deposit two thousand pounds. Are such agreements recommended for Seaforth conveyancing transactions?
There are a couple of primary downsides with signing a lock out contract (sometimes known as a shut-out contract) is that it takes away the focus from making progress with the conveyancing transaction itself, so unless it requires minimal or no negotiation then it may turn out to be unhelpful. It is not promoted amongst Seaforth conveyancing lawyers as a result. A supplemental concern is the extent of the remedies available - an aggrieved buyer should not expect to be granted an injunctive ruling by a court to bar the owner completing the sale to an alternative purchaser, so the only remedy available under the contract will be the recovery of wasted charges and, in limited situations, the extra payment of penalties.
I am the registered owner of a freehold house in Seaforth but nevertheless pay rent, why is this and what is this?
It is rare for properties in Seaforth and has limited impact for conveyancing in Seaforth 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 new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
My grandfather passed away 10 months ago and as sole heir and executor I was left the house in Seaforth. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this possible?
If you plan to re-mortgage then Lloyds will require that you use a conveyancer on the Lloyds conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Lloyds conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Lloyds mortgage is registered as a charge at the Land Registry.
I just bought a flat at auction in Seaforth. Conveyancing is necessary. What happens now?
Having exchanged you now have to hire the services of a conveyancing practitioner as a matter of urgency as you will have a tight a fixed date to complete the deal. Every auction property will have an associated legal pack. This will likely include the copy title deeds, local authority and drainage searches. In the case of leasehold property the legal papers should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You must pass this on to the conveyancer working for you at the earliest opportunity. You also need to ensure that you have funds in place to complete the transaction on the set completion date.
I am buying a end of terrace house in Seaforth. The intention is to carry out a loft conversion at the property.Will legal work on the property include investigations to determine if these works are prohibited?
Your property lawyer should check the deeds as conveyancing in Seaforth will occasionally reveal restrictions in the title deeds which prevent categories of changes or necessitated the permission of a 3rd party. Some additions require local authority planning permissions and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
I was told three weeks ago that my mortgage has been agreed to by Lloyds. Is it usual for Lloyds to only issue the offer once my solicitor in Seaforth is approved on their conveyancing panel? Lloyds have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
Me and my brother own a 4 bedroom Edwardian property in Seaforth. Conveyancing lawyer represented me and Barclays . I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be 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 Seaforth and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing practitioner who conducted the work.
I am selling my home. My former solicitors has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Seaforth if that affects matters.
You should use our search tool to help you find a solicitor for your conveyancing in Seaforth. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.