The owners of the house we are hoping to buy are using a conveyancing firm in Leigh who has suggested a preliminary contract with a deposit 6,000. Is it wise to enter into such agreements?
This type of agreement isn't common in Leigh, conveyancers will often try and steer clients away from them as they detract from focusing on the primary objective, namely conveyancing and if you end up losing your deposit then the solicitor at best left with an upset client and at worst a litigious one. In addition, there is no certainty that just because the proprietor has executed a lock out agreement they will complete the sale with you. They may be motivated to break the agreement if they receive a big enough incentive to do so because a wronged buyer with the benefit of a exclusivitycontract will still be legally obliged to show losses as a consequence of the breach and this may not amount to the extra amount that your seller may gain by breaching the agreement, however morally shameful it undoubtedly is.
What is the difference between a licensed conveyancer and conveyancing solicitor in Leigh
There are two types of lawyers who can conduct conveyancing in Leigh namely CLC regulated conveyancers or solicitors. Both professionals provide conveyancing services that required to complete the sale or acquisition of property. Both are obliged to handle Leigh conveyancing on similar standards and guidelines so you can be sure that your conveyancing will be professionally carried out and that the requirements and steps should be appropriately followed.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Leigh property lawyer on the UBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
Our offer on a semi in Leigh has been accepted, but there is a chain. The vendors have offered on somewhere, but it’s not yet agreed to, and have viewings of other flats in the pipeline. I have selected a high street conveyancing solicitor in Leigh. What should be my next step? When do I get the mortgage application with TSB started?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then valuation, Leigh conveyancing search costs, etc). The first course of action is to ensure that your property lawyer is on the TSB conveyancing panel. As to the next steps this very much depends on the circumstances of your transaction, motivation for the property and on the state of the market. During a buoyant market the majority of buyers would apply for a home loan with TSB and arrange for the valuation and only if it comes back ok would they ask their solicitor to press on with the conveyancing in Leigh.
Should our solicitor be raising enquiries concerning flooding as part of the conveyancing in Leigh.
Flooding is a growing risk for solicitors conducting conveyancing in Leigh. Plenty of people will buy a house in Leigh, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, however there are a numerous searches that may be initiated by the purchaser or by their lawyers which will give them a better understanding of the risks in Leigh. The standard completed inquiry forms supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the owner to determine whether the premises has suffered from flooding. If the residence has been flooded in past which is not revealed by the owner, then a buyer could commence a compensation claim as a result of such an incorrect reply. The buyer’s conveyancers will also order an enviro report. This should indicate if there is a recorded flood risk. If so, more detailed inquiries will need to be conducted.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Leigh?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Leigh. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Leigh. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Leigh ?
Most houses in Leigh are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Leigh so you should seriously consider looking for a Leigh conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.
I acquired a studio flat in Leigh, conveyancing formalities finalised January 2003. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Leigh with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ceases on 21st October 2074
With 52 years left to run the likely cost is going to be between £29,500 and £34,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
I purchased a property in Leigh last 22/6/2021 and to date it is still not recorded with the Land Registry. It was part of a new estate and my conveyancing practitioner told me that it can take over a year to register. I have spoken with HM Land Registry directly and they have informed me the original application was cancelled due to failure to reply to requisitions. Should I be concerned?
It is your solicitor that you should turn to here in order to satisfy any issues which have arisen as part of the registration formalities for your Leigh property. Normal Leigh conveyancing practice includes an undertaking on the part of the previous owner’s property lawyer that they will help resolve any requisition raised by HMLR so it may be a case of seeking to enforce that undertaking if necessary.