The owners of the property we are hoping to buy are using a conveyancing firm in Littleborough who has recommended a preliminary agreement with a deposit 10k. Is it wise to enter into such agreements?
This kind of preliminary agreement isn't common in Littleborough, conveyancers are often found to veer clients away from them as they detract from the primary objective, namely conveyancing and if you end up having your deposit forfeited then the solicitor is left exposed. Secondly, there is no guarantee that just because the seller has executed a lock out contract they will complete the sale with you. They may be in contravention of the agreement if they receive sufficient incentive to do so because an aggrieved purchaser with the benefit of a exclusivity agreement will still be obliged establish consequential losses from the breach and these may not compare to the financial benefit that your vendor may obtain by breaching the agreement, however morally condemnable that may be.
It is 10 years ago since I acquired my home in Littleborough. Conveyancing solicitors have now been appointed on the sale but I am unable to find the deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly there is a possibility that the deeds will be with the lender or they may be archived with the conveyancers who oversaw your purchase. Secondly the chances are that the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring up to date copy of the land registers. Nearly all conveyancing in Littleborough relates to registered property but in the unlikely event that your home is not registered it is more tricky but is resolvable.
What happens if my lawyer’s firm is suspended from the Clydesdale Conveyancing panel ahead of completing my conveyancing in Littleborough?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
It has been 4 months following my purchase conveyancing in Littleborough concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 property 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.
I opted to have a survey carried out on a property in Littleborough prior to appointing solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some lenders will refuse to grant a loan on a flying freehold house.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Littleborough. Conveyancing may be slightly more expensive based on your lender's requirements.
Back In 2009, I bought a leasehold house in Littleborough. Conveyancing and Santander mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Littleborough who acted for me is not around. Any advice?
First contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Littleborough conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a ground floor flat in Littleborough, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Littleborough with a long lease are worth £180,000. The ground rent is £65 charged once a year. The lease runs out on 21st October 2082
With 59 years unexpired we estimate the price of your lease extension to span between £20,900 and £24,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.