I am hoping to receive a mortgage offer from Santander. I would like to employ the services of a Licensed Conveyancer in Caddington. Does the Santander Conveyancing panel include Licensed Conveyancers?
The Santander approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
I am the registered owner of a freehold residence in Caddington but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Caddington and has limited impact for conveyancing in Caddington 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.
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.
Will my solicitor be raising enquiries concerning flooding as part of the conveyancing in Caddington.
The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Caddington. Some people will acquire a property in Caddington, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, but there are a numerous searches that may be undertaken by the buyer or by their solicitors which will give them a better appreciation of the risks in Caddington. The standard completed inquiry forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the vendor to determine if the premises has suffered from flooding. If the residence has been flooded in past and is not revealed by the vendor, then a buyer may commence a legal claim for losses stemming from an inaccurate reply. A purchaser’s lawyers should also order an environmental report. This should indicate if there is any known flood risk. If so, more detailed inquiries will need to be carried out.
It has been three months since my purchase conveyancing in Caddington concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
My husband and I are first time buyers - had an offer accepted, but the selling agent advised that the owners will only issue a contract if we instruct their preferred solicitors as they need an ‘expedited deal’. Our preferred option is to instruct a family solicitor who is familiar with conveyancing in Caddington
It is highly unlikely the owners are driving this. Should the owner require ‘a quick sale', taking such a hostile approach to a serious purchaser is is going to put the whole deal at risk. Try to communicate with the owners directly and make the point that (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you will continue to use your preferred Caddington conveyancing solicitors - as opposed tothose that will provide their estate agent a kickback or achieve conveyancing targets pre-set by senior management.
All being well we will complete the sale of our £150,000 flat in Caddington next Thursday. The landlords agents has quoted £312 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Caddington?
Caddington conveyancing on leasehold maisonettes normally requires the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to do so. They are at liberty to levy a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you if you want to sell the property.
I purchased a 1 bedroom flat in Caddington, conveyancing having been completed in 2011. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Caddington with a long lease are worth £190,000. The ground rent is £45 levied per year. The lease expires on 21st October 2087
With just 62 years left to run we estimate the premium for your lease extension to be between £17,100 and £19,800 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive 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. You should not take any other action placing reliance on this information before getting professional advice.