The solicitor who helped my former purchase has quoted £1200 for freehold conveyancing in Brecon. I’m selling a modern property for £225,000. Is this expensive? Is it in excess of the norm for conveyancing in Brecon?
The quote is slightly on the steep side. Where you are prepared to spend time comparing charges you may be able to get the conveyancing a bit cheaper by perhaps £125. On the other hand, you maylive to regret choosing an an unknown solicitor. If is important to be sure the solicitor can also act for your mortgage company. Do make use of our comparison tool to choose a Brecon conveyancing company on the lender’s approved list of lawyers which can often include conveyancing solicitors in Brecon.
I own a freehold house in Brecon but still charged rent, why is this and what is this?
It is rare for properties in Brecon and has limited impact for conveyancing in Brecon 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 post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I am looking to buy a house and require a conveyancing solicitor in Brecon who is on the Aldermore conveyancing. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Aldermore in certain locations such as Brecon. We dont recommend any particular firm.
I have been on the look out for a leasehold apartment up to £305k and found one near me in Brecon I like with open areas and railway links nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Brecon in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a mortgage the shortness of the lease may be problematic. Reduce the offer 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 ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
If all goes to plan we aim to complete the sale of our £150,000 maisonette in Brecon next Tuesday. The management company has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Brecon?
Brecon conveyancing on leasehold apartments normally involves fees being levied by management companies :
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Completing pre-contract questions
Where consent is required before sale in Brecon
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I bought a split level flat in Brecon, conveyancing was carried out in 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Brecon with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ceases on 21st October 2094
With 70 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
Our lender agreed in principle to issue us a mortgage. We appointed a reputable conveyancer in Brecon last week. This morning, our broker phoned to advise us that the bank said that we cannot use our solicitor as they aren't on their panel. As novices, we had no idea that the lender had a say Is this allowed?
You are at liberty to appoint any conveyancing solicitor you want to instruct for your conveyancing in Brecon however if they are not on the your lender's panel you would have to pay additional cost so your bank can appoint their own solicitors as well to protect their interest. On occasion it is conceivable that your solicitor may apply to get added to the bank list of approved firms. Do make the most of internet search facilities such as lenderpanel.com to find a conveyancing solcitor in Brecon on the mortgage company panel. You can go into your high street mortgage company branch in Brecon. They can recommend conveyancing solicitors in Brecon on the approved list.