I own a freehold premises in Beaufort yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Beaufort and has limited impact for conveyancing in Beaufort 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 establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I used Wolstenholmes several years past for my conveyancing in Beaufort. Now, I need my documents but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Beaufort of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Beaufort is the location of the property. What do you suggest?
Flying freeholds in Beaufort are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Beaufort you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Beaufort may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My husband and I are FTB’s - agreed a price, but the selling agent has warned us that the seller will only move forward if we instruct the agent's recommended solicitors as they want an ‘expedited deal’. We would rather use a family solicitor used to conveyancing in Beaufort
We suspect that the seller is not behind this requirement. Should the vendor want ‘a quick sale', turning down a motivated buyer is counter productive. Bypass the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you intend to appoint your preferred Beaufort conveyancing solicitors - not the ones that will provide their negotiator at the agency a commission or achieve conveyancing thresholds demanded by head office.
My wife and I purchased a leasehold flat in Beaufort. Conveyancing and Halifax mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Beaufort who acted for me is not around. Any advice?
First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Beaufort conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a studio flat in Beaufort, conveyancing was carried out in 2005. Can you work out an approximate cost of a lease extension? Comparable flats in Beaufort with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease comes to an end on 21st October 2079
You have 54 years remaining on your lease the likely cost is going to be between £31,400 and £36,200 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
My nephew is embarking on her first house purchase, he had his mortgage in principle. When the seller agreed the offer on the apartment we called the mortgage company to move forward with his. We were shocked to hear that banks do not accept all conveyancer, they need to be on their approved list, is this legal?
Lenders ordinarily imposes restrictions either the type or the number of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Beaufort conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.