I purchased a freehold property in Highworth yet pay rent, why is this and what is this?
It is rare for properties in Highworth and has limited impact for conveyancing in Highworth 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 from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
We previously instructed solicitors locally in Highworth on the Aldermore solicitor approved list. They have just billed me an additional amount for handling the Aldermore mortgage. Is this a supplemental conveyancing fee set by Aldermore?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancing practitioner is entitled to charge a fee for this. The fee is not dictated by Aldermore but by your Highworth conveyancing practitioner. Some firms on the Aldermore panel will levy ’dealing with mortgage’ fee but plenty of firms incorporate it on their overall fee.
I'm in the throws of looking at flats in Highworth and I am about to put in an offer. Is it sensible to have my conveyancing practitioner on ‘stand by’? I will be getting a home loan with Virgin Money.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are taking out a mortgage with Virgin Money, make sure you remember to check that your lawyer is on the Virgin Money conveyancing panel.
Completion of my purchase has taken place for my property in Highworth. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I opted to have a survey done on a house in Highworth prior to appointing solicitors. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some banks will not give a mortgage on such a house.
It varies from the lender to lender. Santander has different requirements from Nationwide. If you e-mail us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Highworth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Highworth to see if the conveyancing will be more expensive.
I need to instruct a conveyancing lawyer in Highworth for my purchase. Can I review a solicitor's complaints history with the profession’s regulator?
Members of the public can review presented Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after Jan 2008. Go to Check a solicitor's record. For records Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training requirements.
I’m about to sell my ground floor flat in Highworth. Conveyancing lawyers have not yet been instructed, but I have just received a half-yearly maintenance charge invoice – what should I do?
The sensible thing to do is pay the maintenance contribution as usual because all rents and maintenance invoices will be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I purchased a leasehold flat in Highworth, conveyancing having been completed November 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Highworth with over 90 years remaining are worth £175,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease runs out on 21st October 2083
You have 58 years unexpired we estimate the premium for your lease extension to span between £23,800 and £27,400 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account 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 getting professional advice.
What can I expect to pay for conveyancing in Highworth?
The amount you are levied for Highworth conveyancing charges can differ significantly from company to company. In the circumstances it all the more critical for you to have a full summary of charges when you first instruct a lawyer. One should always seek two or more fee estimate.