I own a freehold property in Dyserth but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Dyserth and has limited impact for conveyancing in Dyserth 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 creation 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 is to be dispensed with completely.
What happens if my lawyer’s firm is expelled from the RBS Conveyancing panel ahead of completing my conveyancing in Dyserth?
First, this is very unlikely to happen. 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.
Me and my brother have a terraced Edwardian house in Dyserth. Conveyancing lawyer represented me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the exact same property. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Dyserth and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with your conveyancing solicitor who conducted the work.
I'm purchasing my first flat in Dyserth with the aid of help to buy. The developers would not reduce the amount so I negotiated 6k of extras instead. The sale representative advised me not reveal to my lawyer about this deal as it may affect my mortgage with Clydesdale. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In my capacity as executor for the estate of my grandfather I am selling a residence in Cardiff but reside in Dyserth. My conveyancer (who is 250 miles awayneeds me to sign a stat dec prior to the transaction finalising. Could you suggest a conveyancing practitioner in Dyserth to attest and place their company stamp on the document?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are Dyserth based
Helen (my wife) and I may need to rent out our Dyserth garden flat for a while due to a career opportunity. We instructed a Dyserth conveyancing firm in 2002 but they have since shut and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Dyserth do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I bought a studio flat in Dyserth, conveyancing formalities finalised 7 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Dyserth with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease ends on 21st October 2081
With 57 years unexpired we estimate the premium for your lease extension to span between £28,500 and £33,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.