I hired a West Smithfield based solicitor for our conveyancing in West Smithfield recently. Looking through the terms of engagement I noteI am liable for fees even where the transaction does not complete. Should I go with them or use an on-line conveyancing brokerage advertising no move no charge conveyancing in West Smithfield?
Generally there is a compromise along the lines that if "No Completion No Fee" is offered then the fee levels will tend to be be higher to offset those cases that do not go ahead. Please beware that such deals tend not to protect you from expenses for example West Smithfield conveyancing search fees.
I purchased a freehold residence in West Smithfield but still pay rent, why is this and what is this?
It’s unusual for properties in West Smithfield and has limited impact for conveyancing in West Smithfield 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 creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I have todaybeen informed that Action Conveyancing have been shut down. They conducted my conveyancing in West Smithfield for a purchase of a leasehold apartment 12 months ago. How can I be sure that my home is in my name in the name of the previous owner?
The easiest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of West Smithfield conveyancing specialists.
I am purchasing a new build house in West Smithfield with a loan from Leeds Building Society. The developers refused to budge the price so I negotiated five thousand pounds worth of extras instead. The property agent advised me not disclose to my lawyer about this side-deal as it will adversely affect my loan with Leeds Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking to sell my house. My past lawyers closed down. I am in need of a recommendation of a conveyancing firm. Im based in West Smithfield if that makes a difference.
You should use our search tool to help you find a solicitor for your conveyancing in West Smithfield. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
I am employed by a reputable estate agency in West Smithfield where we see a number of leasehold sales put at risk due to short leases. I have been given contradictory information from local West Smithfield conveyancing solicitors. Could you clarify whether the vendor of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
We have reached the end of our tether in negotiating a lease extension in West Smithfield. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We can put you in touch with a West Smithfield conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a West Smithfield premises is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The unexpired term as at the valuation date was 66.8 years.