A mortgage agreement from NatWest for the refinancing of my 4 bedroom garden flat is to be issued within the next few days. Are you able to suggest a cheap conveyancing practitioner in Formby?
This site is not designed to aid those in pursuit of cut-price fees for conveyancing in Formby. We can offer you value for money conveyancing but our intention is not to advertise as being the cheapest. Avoid the trap of appointing brokers offering the bait of £100 conveyancing in Formby. Optimistically, in deciding on low cost conveyancing, you will end up with what you pay for and at worst you will end up paying a lot in extras and still not get the service expected.
I purchased a freehold house in Formby but nevertheless pay rent, why is this and what is this?
It is rare for properties in Formby and has limited impact for conveyancing in Formby 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
We had appointed solicitors located in Formby on the Yorkshire BS solicitor panel. They have just billed me an additional charge for handling the Yorkshire BS mortgage. Is this a supplemental conveyancing fee specified by Yorkshire BS?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your conveyancing practitioner may levy a fee for this. This fee is not dictated by Yorkshire BS but by your Formby conveyancing practitioner. Some firms on the Yorkshire BS panel will levy an ‘acting for lender’ fee but plenty of firms incorporate it on their overall fee.
How can we know in advance if a Formby conveyancing solicitor on the Aldermore panel is any good?
When it comes to conveyancing in Formby seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer handling your transaction.
Co-operative have agreed my home loan in principle, my bid on a flat in Formby has been agreed to, what are the next steps?
Your property agent will wish to know who your solicitors are (be sure the conveyancing practitioners are on the lender’s panel). Call up Co-operative or your broker and finalise any outstanding documentation. Co-operative will instruct a valuer who will get in touch with the selling agent or seller to schedule a slot for the valuation to happen. Once carried out (assuming no problems) it takes on average a fortnight to get a mortgage offer. Co-operative will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Formby.
I am close to exchanging contracts on the sale of our property in Formby and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. Any local conveyancer would know this is not the case. It does beg the question why the purchasers instructed an internet conveyancing firm as opposed to a conveyancing solicitor in Formby. We have lived in Formby for 4 years we know of no issue. Should we get in touch with our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing firm already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
The deeds to my house are lost. The conveyancers who did the conveyancing in Formby 5 years ago are no longer around. What do I do?
Assuming the title is registered the information relating to your proprietorship will be evidenced by HMLR with a Title Number. It is easy to execute a search at the Land Registry, locate your house and get current copies of the property title for less than a fiver. If the title is Leasehold then the Land Registry will usually hold a file duplicate of the Registered Lease and again, a copy can be retrieved for twenty pounds.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one close by in Formby I like with amenity areas and station nearby, the downside is that it only has 52 remaining years left on the lease. There is not much else in Formby suitable, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage the shortness of the lease may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.