I went with a Upminster based solicitor for our conveyancing in Upminster last week. After carefully reading the official terms of business I seewe are liable for fees even where the transaction does not complete. Should I ditch them and use an internet solicitor practice promoting no move no charge conveyancing in Upminster?
It is usually ‘give and take’ in that if "No Completion No Fee" is advertised then the fee levels will generally be more expensive to cover the cases that do not proceed. Please beware that these offerings rarely cover expenditure by way of example Upminster conveyancing search fees.
My husband and I are nearing an exchange on a flat in Upminster and my parents have sent the ten percent deposit to my conveyancer. I am now informed that as the deposit has been received from someone other than me my conveyancing practitioner needs to make a notification to my mortgage company. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I informed the bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
The lawyer is legally required to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report 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 house in Upminster but still invoiced for rent, why is this and what is this?
It is rare for properties in Upminster and has limited impact for conveyancing in Upminster 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 fresh 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 after 2037 will be extinguished.
Me and my brother own a terraced Georgian house in Upminster. Conveyancing practitioner acted for me and Yorkshire Building Society. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Upminster and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing practitioner who conducted the work.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Upminster I like with amenity areas and railway links nearby, the downside is that it only has 52 years on the lease. I can't really find anything else in Upminster for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will likely be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.