Our family lawyer has given a fee estimate just over a thousand pound for fixed fee conveyancing in Victoria Park. I am looking to sell a purpose built house for £225,000. Is this over the top? Is it in excess of what I should be paying for conveyancing in Victoria Park?
The costs illustration is slightly on the expensive side. If you are happy to invest time contrasting fee on a like for like basis you may be able to get the conveyancing a bit cheaper by say a hundred pounds. That being said, you maylive to regret choosing an an untested lawyer. If is important to check that the solicitor can act for your lender. Do use our comparison tool to locate a Victoria Park conveyancing practice on the banks approved list of lawyers which can often include conveyancing solicitors in Victoria Park.
I am the registered owner of a freehold house in Victoria Park but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Victoria Park and has limited impact for conveyancing in Victoria Park 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 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 is to be extinguished.
It has been 4 months since my purchase conveyancing in Victoria Park concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the guidance of my in-laws I had a survey completed on a property in Victoria Park before instructing conveyancers. I have been told that there is a flying freehold element to the property. The surveyor advised that some mortgage companies tend refuse to give a loan on a flying freehold home.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Victoria Park. Conveyancing may be slightly more expensive based on your lender's requirements.
Having checked my lease I have discovered that there are only 62 years remaining on my lease in Victoria Park. I am keen to get lease extension but my landlord is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the freeholder. For most situations a specialist may be helpful to carry out a search and to produce an expert document to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the application to the County Court overseeing Victoria Park.
Leasehold Conveyancing in Victoria Park - A selection of Questions you should ask before buying
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How is the lease structured? How many years remain on the lease? It would be wise to find out as much as you can about the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical issues like the upkeep of the common parts. Ask prospective neighbours if they are happy with their management. On a final note, be sure you know the dates that the maintenance charges are due to the managing agents and specifically how they are spending that money.
Our lender agreed in principle to grant us a mortgage. We have retained a local conveyancer in Victoria Park two days ago. Today, our broker called to say that the mortgage company said that we cannot use our solicitor as they aren't on their 'approved list'. As novices, we had no idea that the mortgage company had some control over our choice Is this legal?
You are permitted to choose any property lawyer you wish to use including the said conveyancer in Victoria Park but if they are not on the your bank's approved list you would have to fork out an extra fee so your lender can instruct their own conveyancer too. On occasion it is conceivable that your preferred conveyancing firm to get included on to the bank list of approved firms. Do make the most of online search facilities including lenderpanel.com to find a conveyancing solcitor in Victoria Park on the bank panel. You can go into your local lender branch in Victoria Park. They will know some good conveyancing solicitors in Victoria Park on the panel for your bank.