My fiance’s uncle is a conveyancing practitioner. I anticipate that I will receive mate’s fee for conveyancing, However if that does not come through, what level of figure should I be paying for conveyancing in Thornaby on Tees?
It’s wise to seek multiple conveyancing estimates. Do use our comparison tool on this page. The amounts do be different but service levels do differ between conveyancers as is the case with most professions.
I am the registered owner of a freehold property in Thornaby on Tees yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Thornaby on Tees and has limited impact for conveyancing in Thornaby on Tees 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh 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 in 2037 is to be extinguished.
After looking at online forums for a conveyancing lawyer in Thornaby on Tees, many advise that I must use a CQS accredited lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in buying or selling property, trusted by some of the UK's major mortgage companies. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. CQS is not a scheme offered by the Society for Licensed Conveyancers. Thornaby on Tees is one of the numerous areas in England and Wales where there are CQS lawyers.
How does conveyancing in Thornaby on Tees differ for newly converted properties?
Most buyers of new build property in Thornaby on Tees approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in Thornaby on Tees tend to purchase the site, 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 property lawyers 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 Thornaby on Tees or who has acted in the same development.
I decided to have a survey done on a property in Thornaby on Tees before retaining conveyancers. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some mortgage companies may not issue a mortgage on this type of house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. If you e-mail us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Thornaby on Tees. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Thornaby on Tees to see if the conveyancing costs will increase in light of this.