I am the registered owner of a freehold residence in Craven Arms but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Craven Arms and has limited impact for conveyancing in Craven Arms 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 establishment of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the RBS Conveyancing panel ahead of completing my conveyancing in Craven Arms?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Just had an offer accepted on a new build apartment in Craven Arms. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Craven Arms
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Please confirm the Lease plans are architect prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Due to the input of my in-laws I had a survey completed on a house in Craven Arms ahead of retaining solicitors. I have been informed that there is a flying freehold element to the house. My surveyor advised that some mortgage companies may refuse to issue a mortgage on such a property.
It depends who your proposed lender is. HSBC has different requirements for example to Nationwide. If you e-mail us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Craven Arms. Conveyancing will be smoother if you use a solicitor in Craven Arms especially if they are acquainted with such properties in Craven Arms.
Is it possible to swap conveyancer as I need to select one who is on the Santander conveyancing list. I instructed a local conveyancing solicitor in Craven Arms round the corner but he is not accepted by Santander
It would be our pleasure to assist you select a conveyancing solicitor in Craven Arms on the Santander panel. Please note that the property lawyers that we on the directory do not pay us a referral fee if you instruct them and are authorised and regulated by the SRA who oversee all conveyancing solicitors in Craven Arms. In making use of search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Craven Arms.
Do you have any advice for leasehold conveyancing in Craven Arms from the point of view of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Craven Arms can be bypassed where you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers. In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Craven Arms leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord approving such alterations. Where you dont have the paperwork to hand do not contact the landlord without contacting your lawyer in advance. Many freeholders or Management Companies in Craven Arms levy fees for supplying management packs for a leasehold home. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Craven Arms. If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Organising a duplicate share certificate can be a time consuming process and delays many a Craven Arms home move. Where a reissued share is necessary, do contact the company officers or managing agents (if applicable) for this as soon as possible. If you have had conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a flat where a dispute is unresolved. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unresolved.
Leasehold Conveyancing in Craven Arms - Examples of Queries Prior to buying
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Who are the managing agents? How many of the leaseholders are in arrears for their service charge payments?