My fiance and I are hoping to buy a home in Dalton in Furness and have appointed a Dalton in Furness conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Barnsley Building Society have this evening contacted us to inform me that there is now an issue as our Dalton in Furness solicitor is not on their approved list of lawyers. Is this a problem?
Where you are buying a property requiring a mortgage it is usual for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Dalton in Furness lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
I am the registered owner of a freehold house in Dalton in Furness but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Dalton in Furness and has limited impact for conveyancing in Dalton in Furness 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 redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a quick, chain free conveyancing. Dalton in Furness is where the house is located. Is there any guidance you can give?
Flying freeholds in Dalton in Furness are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Dalton in Furness 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 Dalton in Furness may decide 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 premises.
Do I need to be concerned that third parties that I am dealing with are encouraging me to use a factory type conveyancing firm rather than a local Dalton in Furness conveyancing firm?
As with lots of service providers, often recommendations from relatives can be most helpful. Yet there are many people with a keen interest in a conveyancing matter; estate agents, mortgage brokers and lenders may suggest conveyancers to instruct. On occasion the lawyers might be known to one of the organisations as experts in their field, but sometimes there exists a commercial relationship behind the recommendation. You are free to select your own lawyer. Don't forget that most banks specify a panel list of law firms you have to use for the mortgage aspect of your home move.
As co-executor for the estate of my uncle I am selling a property in Monmouth but I am based in Dalton in Furness. My solicitor (who is 250 kilometers awayhas requested that I sign a stat dec ahead of the transaction finalising. Can you recommend a conveyancing lawyer in Dalton in Furness to attest this legal document for me?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are Dalton in Furness based
I am on look out for some leasehold conveyancing in Dalton in Furness. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is registered - and most are in Dalton in Furness - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the registered owner of a 2 bed flat in Dalton in Furness, conveyancing was carried out 3 years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Dalton in Furness with over 90 years remaining are worth £192,000. The ground rent is £55 levied per year. The lease terminates on 21st October 2079
With 54 years left to run the likely cost is going to range between £32,300 and £37,400 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.