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Find a Lifton Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Lifton? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Lifton home move at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Lifton conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Lifton

I own a freehold premises in Lifton yet charged rent, why is this and what is this?

It is rare for properties in Lifton and has limited impact for conveyancing in Lifton 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 fresh 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 in 2037 will be extinguished.

How does conveyancing in Lifton differ for newly converted properties?

Most buyers of new build or newly converted property in Lifton contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is built. This is because developers in Lifton typically buy 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 Lifton or who has acted in the same development.

Over the last few months I have been searching for a flat up to £235,500 and identified one round the corner in Lifton I like with amenity areas and station nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Lifton in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?

If you require a mortgage that many years will likely be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.

My business partner and I are wishing to lease a unit on a shopping parade. Can you recommend lawyers offering no-move-no charges for non-domestic conveyancing in Lifton for less than 1500k?

We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Lifton, including the sale and acquisition of businesses as well as simply property. If you are intending to acquire or sell a shop, pub, restaurant, office, retail unit or a complete business we will find you the right firm. As for the costs this will depend on the structure and terms of the deal. Let us have your contact information or email so as to enable us to furnish you with comprehensive commercial conveyancing quote.

My step-son is just in the process of moving house, he had his mortgage in principle. One the seller agreed the offer on the apartment we called the building society to progress the mortgage application. We were shocked to learn that mortgage companies do not accept all conveyancing practitioner, they need to be on their approved list, is this correct?

Banks tend to restrict either the type or the number of conveyancing firms on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Lifton conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.

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Find out more about how flying freehold can affect your the value of a property.