In the event thatI was to buy a straightforward propertyin Lancashire mortgage fee and dispense with a survey and no local authority searches how much would I expect to have to pay for conveyancing in Lancashire?
The sole reduction in fees you would achieve is the Lancashire conveyancing searches. The solicitor is obliged to do the vast majority of work - money laundering, correspond with your sellers solicitor, SDLT return, register the property etc. You might save a bit for them not having to register a mortgage however it won't be significant.
Me and my brother purchased a renovated Victorian house in Lancashire. Conveyancing lawyer represented me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register for 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 Lancashire and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing lawyer who conducted the work.
How does conveyancing in Lancashire differ for newly converted properties?
Most buyers of new build or newly converted property in Lancashire approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is constructed. This is because builders in Lancashire typically acquire the real estate, 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 Lancashire or who has acted in the same development.
I want to sublet my leasehold apartment in Lancashire. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Even though your last Lancashire conveyancing lawyer is not around you can review your lease to check if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is permitted. There may be a precondition that you are obliged to seek consent via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet in the absence of prior consent. The consent must not not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I purchased a leasehold flat in Lancashire, conveyancing was carried out in 2008. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Lancashire with a long lease are worth £170,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2102
With only 78 years left to run we estimate the premium for your lease extension to be between £7,600 and £8,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
What is the reason for new build conveyancing in Lancashire being more expensive?
Acquiring a brand new property is significantly distinct from the standard house buying conveyancing in Lancashire. For a start sellers usually require contracts to exchange inside a short timeframe, the result being a a great deal of pressure on your conveyancer to ensure everything is in order. In addition new build properties often involve examination of adoption of highways, drains, planning considerations, building warranties or architects certificates. Mortgage company obligations are also more demanding. Taking into account the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.