I am nearing exchange of contracts for my ground floor flat in Flint Mountain and the EA has just telephoned to advise that the buyers are changing their conveyancer. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their approved list. Why would a leading mortgage company only work with certain law firms rather the firm that they want to appoint for their conveyancing in Flint Mountain ?
UK lenders have always had panels of law firms that can represent them, but in the past few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
I own a freehold premises in Flint Mountain yet invoiced for rent, why is this and what is this?
It is rare for properties in Flint Mountain and has limited impact for conveyancing in Flint Mountain 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 many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one round the corner in Flint Mountain I like with open areas and station in the vicinity, however it only has 51 years on the lease. There is not much else in Flint Mountain for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan the shortness of the lease may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
What does commercial conveyancing in Flint Mountain cover?
Flint Mountain conveyancing for business premises covers a broad range of services, given by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I own a leasehold house in Flint Mountain. Conveyancing and Alliance & Leicester mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Flint Mountain who acted for me is not around. Do I pay?
The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Flint Mountain conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a ground floor flat in Flint Mountain, conveyancing having been completed February 2007. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Flint Mountain with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 levied per year. The lease expires on 21st October 2099
With just 75 years unexpired the likely cost is going to span between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
If instructed can a conveyancer remove someone from the title of my home in Flint Mountain ?
Subtracting or adding someone to the title of your property is relatively straightforward. You’ll need to appoint a lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a solicitor