I am the registered owner of a freehold house in Blackwood but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Blackwood and has limited impact for conveyancing in Blackwood 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 post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
Are all Blackwood Conveyancing Quality Solicitors on the Principality conveyancing list of approved solicitors?
Some major banks and building societies now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
My husband and I have arranged a further advance on our home loan from HSBC as we want to conduct renovations to our home in Blackwood. Do we need to choose a bricks and mortar Blackwood solicitor on the HSBC conveyancing panel to deal with the legals?
HSBC would not normally instruct firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC conveyancing panel.
I am currently in the process of buying my council flat in Blackwood. I have a mortgage offer with TSB. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
I used Stirling Law several years ago for my conveyancing in Blackwood. I now require my file however the law firm is no longer operating. What do I do?
You should contact 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 Blackwood of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I was recommended by numerous property agents in Blackwood to select a property lawyer using your seach tool. What’s the financial advantage for Estate Agents to offer your site ahead of a competitor’s?
We don’t give any financial incentive for directing people in our direction. We found it would be just too difficult to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I've recently bought a leasehold flat in Blackwood. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a basement flat in Blackwood, conveyancing formalities finalised October 2006. Can you work out an approximate cost of a lease extension? Similar flats in Blackwood with over 90 years remaining are worth £265,000. The ground rent is £50 invoiced every year. The lease finishes on 21st October 2102
With just 76 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
Should I stop my mortgage payments with Lloyds as soon as a completion date for my home sale in Blackwood has been set?
No, you should keep meeting any mortgage sums to Lloyds until the mortgage is repaid on completion as part of your Blackwood conveyancing.