I have just started taking steps with a view to switching my existing standard loan to a BTL Leeds Building Society mortgage. I have been informed by my broker that I need a solicitor for this. I got in contact with my previous West Kirby conveyancing practitioner who who did the conveyancing when I initially bought the property. The costs illustration e-mailed to me of £470 is surprising as I am not require purchase conveyancing - it’s just a bog-standard refinance.

The estimate does seem a tad on the high side. If you you were to look around you may be able to get the conveyancing a bit cheaper by as much as a hundred pounds. On the other hand, if you were pleased with the legal work the firm gave you couldlive to regret choosing an a cheaper solicitor. Don't forget to enquire that the solicitor can also act for Leeds Building Society. Do employ our search tool to get a quote a West Kirby conveyancing firm on the Leeds Building Society conveyancing panel, which can often include conveyancing solicitors in West Kirby.

I am the registered owner of a freehold premises in West Kirby yet invoiced for rent, why is this and what is this?

It’s unusual for properties in West Kirby and has limited impact for conveyancing in West Kirby 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 date back many centuries, but the Rent Charge Act 1977 barred the establishment of new 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.

We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would much rather instruct a local conveyancing solicitor in West Kirby?

You should check but the the likelihood is that give you one of their panel solicitors should you accept the "fee-free" incentive. Contact the mortgage company and determine if they allow a cash alternative. Some banks have previously offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor in West Kirby.

I am hoping to exchange soon on a leasehold property in West Kirby. Conveyancing solicitors inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in West Kirby should include some of the following:

Rent payments - what is payable and when you need to pay, and also know whether this will change in the future Specifying your legal entitlements in respect of common areas in the block.E.G., does the lease include a right of way over a path or staircase? Are pets allowed in the flat? You should receive a copy of the lease

Leasehold Conveyancing in West Kirby - Examples of Questions you should ask before buying

Plenty West Kirby leasehold properties will incur a service bill for maintenance of the block set on behalf of the landlord. If you buy the property you will have to meet this amount, normally in instalments accross the year. This may vary from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common areas. There will also be a ground rent for you to pay yearly, ordinarily this is not a large figure, say around £25-£75 but you should to enquire it because on occasion it could be surprisingly expensive. You should want to find out as much as possible about the managing agents as they will either make your life much simpler or problematic. As the owner of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to daily issues like the tidiness of the common parts. Enquire of other people what they think of their service. On a final note, be sure you know the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what you get for your money. Does the lease contain onerous restrictions?

My conveyancers in West Kirby have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the bank. Is it case that being on the lender conveyancing panel they need to have retained the file for a prescribed period?

Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the lender directly.