I purchased a freehold residence in Beaufort yet charged 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 date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
Are the BSA planning on creating a search tool with a view to to identify law firms on the Melton Mowbray Building Society conveyancing panel for example in Beaufort?
Lexsure has not been advised of any intention on the part of the BSA to promote such a register.
We previously instructed conveyancing lawyers locally in Beaufort on the Yorkshire BS solicitor approved list. They have just invoiced me an additional fee for dealing with the Yorkshire BS mortgage. Is this a supplemental conveyancing fee specified by Yorkshire BS?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancer can charge a fee for this. This charge is not set by Yorkshire BS but by your Beaufort property lawyer. Some firms on the Yorkshire BS panel will charge ’dealing with mortgage’ fee and others do not.
I am purchasing a property in Beaufort. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Co-operative be concerned?
Given that you are obtaining a mortgage with Co-operative your lawyer must follow the formal instructions outlined in Part two of UK Finance Lenders’ Handbook for Co-operative. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Co-operative where a lease does not meet these provisions. The specifications relate to the installation of panels on properties nationwide and is not isolated to Beaufort.
After much negotiation I have agreed a price on an apartment in Beaufort. My financial adviser suggested a conveyancing practitioner. I paid an upfront payment of £200. A couple of days later, the solicitor called me embarrassingly acknowledging that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
What does a local search reveal concerning the property we're purchasing in Beaufort?
Beaufort conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations for instance Searchflow The local search plays a central part in many a Beaufort conveyancing purchase; as long as you don’t want any nasty surprises after you move into your property. The search will supply information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
As co-executor for the estate of my aunt I am selling a property in Newport but reside in Beaufort. My conveyancer (approximately 200 kilometers from meneeds me to sign a stat dec prior to completion. Could you suggest a conveyancing practitioner in Beaufort who can witness and place their company stamp on the document?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are based in Beaufort
I am a negotiator for a busy estate agency in Beaufort where we see a few leasehold sales jeopardised due to short leases. I have been given conflicting advice from local Beaufort conveyancing firms. Can you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the registered owner of a garden flat in Beaufort, conveyancing was carried out July 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Beaufort with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 yearly. The lease finishes on 21st October 2079
You have 53 years remaining on your lease we estimate the price of your lease extension to be between £27,600 and £31,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.