Our Kingswood conveyancer has discovered an inconsistency when comparing the assumptions in the valuation report and what is revealed within the conveyancing documents. My lawyer informs me that he must check that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am the registered owner of a freehold property in Kingswood but still charged rent, why is this and what is this?
It is rare for properties in Kingswood and has limited impact for conveyancing in Kingswood 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 creation of new 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 after 2037 is to be extinguished.
The deeds to our house are lost. The conveyancers who did the conveyancing in Kingswood 10 years ago are no longer around. What do I do?
Assuming you have a registered title the details of your ownership will be evidenced by HMLR under a Title Number. It is possible to conduct a search at the Land Registry, identify your house and order up to date copies of the property title for a small fee. If the property is Leasehold then the Land Registry will also normally retain a certified copy of the Registered Lease and again, a copy can be retrieved for a small fee.
I opted to have a survey completed on a property in Kingswood before instructing lawyers. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some lenders will not grant a mortgage on this type of house.
It varies from the lender to lender. HSBC has different requirements from Nationwide. If you call us we can check with 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 Kingswood. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Kingswood to see if the conveyancing will be more expensive.
Is it possible to change solicitor as I need to select a firm on the Accord Mortgages Ltd conveyancing list. I had appointed a local conveyancing solicitor in Kingswood round the corner but the firm is not accepted by Accord Mortgages Ltd
We will our best to assist in finding you a conveyancing solicitor in Kingswood on the Accord Mortgages Ltd panel. Please note that the conveyancers that we work with do not pay us a referral fee if you instruct them and are registered with the SRA who oversee all conveyancing solicitors in Kingswood. In utilising search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Kingswood.
Planning to sign contracts shortly on a studio apartment in Kingswood. Conveyancing lawyers inform me that they report fully next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Kingswood should include some of the following:
-
Are pets allowed in the flat? Responsibility to repair and maintain the building. It is essential that you know who is liable for the repair and maintenance of every part of the building What options are available to the landlord where you are in breach of your lease terms? You should have a good understanding of the building insurance requirements It needs to be made clear to you whether the lease allows you to alter or upgrade aspects of the flat- you should be made aware as to whether it applies to all alterations or limited to structural alteration, and whether consent is required
I invested in buying a ground floor flat in Kingswood, conveyancing having been completed July 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Kingswood with over 90 years remaining are worth £186,000. The ground rent is £55 levied per year. The lease finishes on 21st October 2079
With only 53 years left to run the likely cost is going to range between £27,600 and £31,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you 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.