Having been referred to your organisation we were about to appoint conveyancing solicitor in Northam endorsed on your site but have come across some other costs illustrations via the web appear less expensive – how come?
There are hundreds of solicitors offering what appear to be the cheapest conveyancing in Northam. You should think long and hard as to how much you respect your own move to want to take 'cheap' risks over the quality of the conveyancing. Many of them list a bargain quote to tempt you but hide additional fees in the fine print..
I am the registered owner of a freehold premises in Northam but still pay rent, why is this and what is this?
It is rare for properties in Northam and has limited impact for conveyancing in Northam 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 generation of new rentcharges from 1977 onwards.
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 dispensed with completely.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Northam?
There are many registered licenced Conveyancers in Northam and Solicitor practices in Northam who provide Conveyancing services It is important to make clear that the two are regulated professionals specialising in the legal aspects of the home buying process. The two can handle associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
We previously appointed conveyancing lawyers with offices in Northam on the Kent Reliance solicitor approved list. They are now charging me a supplemental fee for dealing with the Kent Reliance mortgage. Is this an additional conveyancing fee specified by Kent Reliance?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancer is entitled to charge a fee for this. This fee is not set by Kent Reliance but by your Northam property lawyer. Numerous firms on the Kent Reliance panel will charge ’dealing with mortgage’ fee but many practices include it on their overall fee.
My offer was accepted on an apartment in Northam on 16/6/2021, valuation was booked 2 days after, all came back fine. Solicitor retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Leeds Building Society and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Leeds Building Society conveyancing panel. Are Leeds Building Society entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am intent on selling our property in Northam and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. Any high street Northam lawyer would know that there is no such problem. It does beg the question why the purchasers are using an online conveyancing outfit rather than a conveyancing solicitor in Northam. We have lived in Northam for six years we know of no issue. Is it a good idea to get in touch with our local Authority to seek confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You must 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 life insurance to cover that same sickness)
How does conveyancing in Northam differ for new build properties?
Most buyers of new build or newly converted property in Northam come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Northam tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Northam or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Northam is where the house is located. Can you shed any light on this issue?
Flying freeholds in Northam are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Northam you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Northam may ascertain 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.