Recently been in touch with my conveyancing lawyer in Northam who completed the legal work 18 months ago requesting a conveyancing quote based on an identical type of house move (a leasehold residence and a freehold premises) of almost identical values with a loan from Barclays . I am now being charged double. Better the devil I know or should I seek out an alternative property lawyer?
The quote is fractionally on the steep side. If you are happy to expend time contrasting prices you might shave off some of the cost by perhaps £125. That being said, providing that you were pleased with the conveyancing the firm offered you couldlive to regret choosing an an untested conveyancer. Don't forget to be sure that the solicitor can act for Barclays . You can use our search tool to locate a Northam conveyancing firm on the Barclays conveyancing panel, which can often include conveyancing solicitors in Northam.
I am the registered owner of a freehold premises in Northam but still pay rent, why is this and what is this?
It is rare for properties in Northam and has limited impact for conveyancing in Northam 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 generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
My Solicitor in Northam is not listed on the TSB Approved Panel. Can I still use my family solicitor notwithstanding that they are not on the TSB list of approved lawyers?
The limited options available to you here include:
- Complete the purchase with your preferred Northam solicitors but TSB will need to retain a solicitor on their panel. This will result in additional overall legal charges as well as cause delays.
- Choose an alternative lawyer to act in the purchase, obviously checking they are on the TSB panel
I'm the only recipient of my late father’s will with all property in now in my sole name, including the house in Northam. The Northam property was put into my name in November. I now wish to sell up. I understand that there is a CML 6 month 'rule', meaning my property ownership could be treated the same way as though I had purchased the property in November. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. Some banks would take a sensible view as this requirement principally exists to pick up on subsales or the flipping of properties.
Is it the case that all Northam conveyancing solicitors on the Virgin Money conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Virgin Money conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Many lenders do permit licenced conveyancers on their panel and in that case the organisation would be overseen by the CLC.
I am due to exchange contracts on my apartment. I had a double glazing fitted in March 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Lloyds are being difficult. The Northam solicitor who is on the Lloyds conveyancing panel is saying indemnity insurance will be fine but Lloyds are insisting on a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Over the last few months I have been searching for a ground for flat up to £305k and identified one near me in Northam I like with amenity areas and railway links in the vicinity, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Northam in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage the shortness of the lease will be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years 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 current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.