I own a freehold house in Crook yet pay rent, why is this and what is this?
It’s unusual for properties in Crook and has limited impact for conveyancing in Crook 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 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 after 2037 will be extinguished.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Does this mean I have to appoint their panel conveyancer as I would much rather use a local conveyancing solicitor in Crook?
Do check but the chances are that allocate you one of their panel solicitors should you take up the "fee-free" deal. Speak to the mortgage company to explore if they allow a cash alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Crook.
Can I be sure that the Crook conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Crook seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer carrying out your transaction.
I am buying a property in Crook. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?
Given that you are obtaining a mortgage with Coventry BS your lawyer must follow the formal instructions contained in Part two of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook contains minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Coventry BS where a lease fails to satisfy these requirements. The conditions relate to the installation of panels on properties countrywide and is not isolated to Crook.
After weeks of negotiation I have agreed a price on an apartment in Crook. My financial adviser pressured me to appoint their property lawyer. I paid an on account payment of £175. Soon after, the lawyer contacted me to say that they were not on the UBS 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 UBS 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.
Should our lawyer be raising enquiries regarding flooding as part of the conveyancing in Crook.
Flooding is a growing risk for solicitors dealing with homes in Crook. There are those who purchase a property in Crook, completely expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, however there are a numerous checks that can be carried out by the buyer or on a buyer’s behalf which should figure out the risks in Crook. The standard information given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the seller to discover if the premises has suffered from flooding. In the event that flooding has previously occurred and is not disclosed by the owner, then a purchaser may commence a claim for damages stemming from an inaccurate reply. A buyer’s solicitors should also order an environmental search. This should indicate if there is a recorded flood risk. If so, more detailed inquiries will need to be carried out.
I am on look out for some leasehold conveyancing in Crook. Before diving in I require certainty as to the unexpired term of the lease.
If the lease is registered - and almost all are in Crook - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a 1 bedroom flat in Crook, conveyancing was carried out 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Crook with over 90 years remaining are worth £260,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2100
With just 75 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as costs.
The suggested premium range above 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 a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered 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 getting professional advice.
My boyfriend is buying a leasehold flat in Crook. He was given a quote by the conveyancer suggested by the estate agents and it came to £1156 . It was eight years ago I sold and purchased a home and it cost was £600. Have charges really increased to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for example Crook searches, land registry fees, etc)