We chose a high street lawyer for our conveyancing in Leicester yesterday. After carefully reading the terms of engagement I seewe are liable for costs even where the transaction does not complete. Would I be best advised to instruct a web based conveyancing company who offer no-sale-no-fee conveyancing in Leicester?
Generally there is a compromise along the lines that if "No Sale No Fee" is offered then the conveyancing charges will generally be more expensive to offset the conveyances that do not go ahead. Dont forget that such schemes generally do not protect you from expenditure for instance Leicester conveyancing search fees.
I own a freehold premises in Leicester but still pay rent, why is this and what is this?
It’s unusual for properties in Leicester and has limited impact for conveyancing in Leicester 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 establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
My wife and I have recently appointed a conveyancing solicitor in Leicester. I need to find out whether they are accepted on the Virgin Money approved list of lawyers. Can you advise?
You should contact your conveyancer and ask them if they are on the lender panel. Alternatively you can call Virgin Money who may be able to help.
A relative suggested that where I am purchasing in Leicester I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Leicester conveyancing searches. It is a large document of more than thirty pages, listing and setting out significant information about Leicester around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Leicester Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Leicester Education with maps and statistics, Local Amenities and other useful information regarding Leicester.
My company is looking to take over a lease of an office on the high street. Can you recommend solicitors offering no-move-no costs for non-domestic conveyancing in Leicester for below 2k?
We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Leicester, including the disposal and acquisition of businesses as well as simply premises. If you are looking to buy or lease a shop, pub, restaurant, office, retail unit or a whole business we will find you the right lawyer. Regarding the charges these will vary based on the structure and terms of the deal. Let us have your details or email us so that we can furnish you with comprehensive commercial conveyancing calculation.
We are midway through purchasing a residence in Leicester. Conveyancing solicitor has told us the title is "Leasehold". Does this adversely affect our mortgage valuation?
Leicester conveyancing does not usually involve leasehold houses. The crucial factor here is the length of lease and the ground rent. If there are hundred of years years remaining with a nominal rent, it's essentially freehold, so it’s unlikely to affect the value significantly.
On the flip side, if it's, say, 50 years it is bound to have a significant impact on the saleability, and probably wouldn't be mortgageable. The remaining lease term and ground rent will be specified in the lease provided to your conveyancing practitioner.