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Recently asked questions about conveyancing in Littleport

I own a freehold residence in Littleport but nevertheless invoiced for rent, why is this and what is this?

It is rare for properties in Littleport and has limited impact for conveyancing in Littleport 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 many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.

Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.

What is your number one tip for finding a conveyancing solicitor in Littleport

Do not opt for the lowest Littleport conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.

Have just purchased a probate house at auction in Littleport. Conveyancing is required. What is next?

Given that you have now to in every practical sense signed on the dotted line you will need to appoint a conveyancing practitioner soon as you now have a tight a drop dead date to complete the property. Every auction property will have a corresponding legal set of papers. This will likely include evidence of title and search results. Where you are dealing with leasehold property the conveyancing pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to leasehold premises. You need to pass this on to the solicitor working for you at the earliest opportunity. Do make sure that your finances are organised to complete on the on the contractual date .

Please help - my lawyer advises that chancel insurance is necessary on my purchase. What is the level of cover for Littleport conveyancing?

The right level of chancel indemnity insurance depends on who your lender is. It would differ for example between Barclays and Leeds Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.

As co-executor for the estate of my grandfather I am selling a residence in Monmouth but live in Littleport. My lawyer (approximately 300 kilometers awayneeds me to execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing practitioner in Littleport who can attest and place their company stamp on the document?

strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are Littleport based

Are there common problems that you encounter in leases for Littleport properties?

There is nothing unique about leasehold conveyancing in Littleport. All leases are individual and drafting errors can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:

    Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, The Royal Bank of Scotland, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

Leasehold Conveyancing in Littleport - Examples of Queries before Purchasing

    The prefered form of lease arrangement is a share of the freehold. In this scenario the leaseholders enjoy being in charge if their destiny and notwithstanding that a managing agent is frequently employed where it is bigger than a house conversion, the managing agent is directed by the tenants. Who takes responsibility for maintaining and repairing the building? It is important to be aware whether a new roof is being installed or some other major work is due shortly to be shared amongst the leaseholders and could well dramatically impact the level of the maintenance costs or necessitate a specific payment.

I am in the process of buying my first house in Littleport. Conveyancing solicitor already selected. The financial consultant suggested that a survey is not needed as the house is only 20 yrs old.

You would be best advised to commission a Home Buyer's Report. Given the property is more than ten years old the property will not benefit from a warranty, so you would be well advised not to take a risk. For a property that age with no signs of problems a Home Buyer's report may be sufficient. The report should highlight any obvious problems and suggest further investigation if relevant. If there are any indications of problems get a full Building Survey from the beginning.

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Neighbouring Locations

Downham Market

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