I hired a local firm for our conveyancing in Lynmouth today. Reviewing the Terms and Conditions I seewe are on the hook for costs even if the sale aborts. Should I ditch them and choose a web based conveyancing brokerage offering no move no charge conveyancing in Lynmouth?
It is usually a trade off in that if "No Sale No Fee" is advertised then the fee levels will generally be higher to cover those cases that do not go ahead. Also remember that these offerings tend not to protect you from expenditure by way of example Lynmouth conveyancing search expenses.
I own a freehold house in Lynmouth but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Lynmouth and has limited impact for conveyancing in Lynmouth 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 establishment of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I happen to be the sole recipient of my late grandmother’s estate and I have everything in my name alone, including the my former home in Lynmouth. The Lynmouth property was put into my name in November. I now wish to sell up. I do know about the CML six month 'rule', which means that my property ownership may be considered the same way as if I'd bought the house in November. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How practical a view mortgage companies take of it, depend on the lender as this obligation is primarily there to capture the purchase and immediately sell or the quick reselling of property.
We had chosen conveyancing lawyers with offices in Lynmouth on the Virgin Money solicitor panel. They have just invoiced me an additional fee for handling the Virgin Money mortgage. Is this an additional conveyancing fee set by Virgin Money?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancer may charge a fee for this. The fee is not set by Virgin Money but by your Lynmouth lawyer. Some firms on the Virgin Money panel will quote ’dealing with mortgage’ fee but some practices include it on their overall fee.
I am buying a property in Lynmouth. One unusual aspect is that the roof has a solar panel. Barclays have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Barclays your lawyer must follow the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook includes minimum specifications for solar panel roof-space leases, and lawyers are required to report to Barclays where a lease fails to satisfy these specifications. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Lynmouth.
Me and my brother have a terraced Victorian property in Lynmouth. Conveyancing practitioner acted for me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the exact same address. Is it worth asking Leeds Building Society to clarify?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Lynmouth and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing practitioner who completed the work.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Lynmouth is where the house is located. What do you suggest?
Flying freeholds in Lynmouth 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 Lynmouth you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lynmouth may determine 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.
I need to instruct a conveyancing lawyer in Lynmouth for my home move. Is there any facility to check a solicitor's complaints history with the legal regulator?
You may find published Solicitor Regulator Association (SRA) determinations resulting from inquisitions commenced on or after 1 January 2008. Go to Check a solicitor's record. To find information Pre 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The regulator may monitor call for training reasons.