My previous solicitor has sent a quote for £1150 for no completion no fee conveyancing in Burnopfield. I am looking to sell a Edwardian house for £225,000. Is this overpriced? Is it above what I should be paying for conveyancing in Burnopfield?
The charges are a little high. If you shop around you could get the conveyancing a bit cheaper by say £100 plus VAT. That being said, you mightcome to regret opting for an an untested conveyancer. Don't forget to check the firm can act for your lender. Do employ our search tool to locate a Burnopfield conveyancing company on the lender’s approved list of lawyers which can often include conveyancing solicitors in Burnopfield.
My husband and I are nearing an exchange on a flat in Burnopfield and my mum and dad have transferred the 10% deposit to my conveyancing practitioner. I am now told that as the deposit has been sent from someone other than me my conveyancer needs to make a notification to my lender. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I informed the bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The lawyer is legally required to check with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I am the registered owner of a freehold residence in Burnopfield but nevertheless pay rent, why is this and what is this?
It is rare for properties in Burnopfield and has limited impact for conveyancing in Burnopfield 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 creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
four months have elapsed since my purchase conveyancing in Burnopfield completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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 asset 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.
How does conveyancing in Burnopfield differ for newly converted properties?
Most buyers of new build premises in Burnopfield approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Burnopfield usually 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 property lawyers 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 used to new build conveyancing in Burnopfield or who has acted in the same development.