I purchased a freehold house in Cwmcarn yet charged rent, why is this and what is this?
It’s unusual for properties in Cwmcarn and has limited impact for conveyancing in Cwmcarn 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 generation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I am considering remortgaging my home in Cwmcarn, does my lawyer have to be on the UBS Solicitor panel?
In theory, you could use a solicitor that is not on the UBS conveyancing panel, but UBS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I am being advised by my conveyancer that lack of planning permission insurance is required on my purchase. What is the level of cover for Cwmcarn conveyancing?
The right level of lack of planning permission indemnity insurance should be dictated by who your lender. It would differ for example between Lloyds TSB Bank and Virgin Money. Conveyancing solicitors as opposed to members of the public take out such policies.
I have decided to exercise my right to buy my property in Cwmcarn off the council. I have a mortgage agreed with Barclays. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use 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 Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
The mortgage over my property is with Santander for my property in Cwmcarn. Conveyancing has been completed 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Santander?
Santander must be informed of your intention in advance of letting out your property as this is likely to be a breach of Santander’s mortgage conditions. It may be that Santander will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Santander directly. You need not do this via a Santander conveyancing panel lawyer.
It has been three months since my purchase conveyancing in Cwmcarn took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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 residence 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.
Is it possible to switch solicitor as I need to choose a firm on the Lloyds TSB Bank conveyancing list. I instructed a high street conveyancing solicitor in Cwmcarn five minutes from me but she is not approved by Lloyds TSB Bank
It would be our pleasure to assist you find a conveyancing solicitor in Cwmcarn on the Lloyds TSB Bank panel. Please note that the property lawyers that we on the directory do not pay us commission if you instruct them and are fully regulated by the SRA who regulate all conveyancing solicitors in Cwmcarn. In making use of search facility on this page, you can scrutinise fees for conveyancing solicitors in Cwmcarn and beyond.
Jane (my partner) and I may need to rent out our Cwmcarn 1st floor flat for a while due to a career opportunity. We used a Cwmcarn conveyancing practice in 2003 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?
Notwithstanding that your last Cwmcarn conveyancing solicitor is not around you can check your lease to check if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you must seek permission from your landlord or some other party before subletting. This means that you cannot sublet in the absence of prior permission. Such consent must not not be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I inherited a basement flat in Cwmcarn, conveyancing was carried out January 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Cwmcarn with a long lease are worth £265,000. The ground rent is £50 yearly. The lease comes to an end on 21st October 2100
You have 76 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. 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 without first seeking the advice of a professional.