I own a freehold premises in Llandyrnog but still invoiced for rent, why is this and what is this?
It is rare for properties in Llandyrnog and has limited impact for conveyancing in Llandyrnog 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 new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
I am considering remortgaging my home in Llandyrnog, does my lawyer need to be on the Barclays Solicitor panel?
There is nothing to stop you using your solicitor, but Barclays will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
is it true that all Llandyrnog solicitor practices on the Leeds Building Society conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Leeds Building Society approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. The majority of banks do permit licenced conveyancers on their panel in which case such practice would be regulated by the CLC.
It is not clear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Llandyrnog bank branch on numerous occasions and was told they are content with the situation and they will lend. My Llandyrnog conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to comply with the CML Handbook section two provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Santander have agreed my home loan in principle, my bid on a flat in Llandyrnog has been agreed to, what happens next?
The property agent will want to know who your solicitors are (ensure that the lawyers are on the lender’s approved list). Call up Santander or the broker and finish off any outstanding documentation. Santander will appoint a valuer who will get in contact with the estate agent or vendor to arrange an appointment. Once conducted (assuming no problems) it takes about a fortnight to get a mortgage offer. Santander will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Llandyrnog.
In my capacity as executor for the will of my father I am selling a residence in Swansea but reside in Llandyrnog. My lawyer (based 260 kilometers awayhas requested that I sign a statutory declaration ahead of completion. Could you suggest a conveyancing lawyer in Llandyrnog to attest and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are based in Llandyrnog
I've recently bought a leasehold property in Llandyrnog. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Llandyrnog - A selection of Queries Prior to buying
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Does the lease have in excess of 85 years remaining? This question is important as a) areas may cause problems for the block as the common areas may begin to deteriorate where services are not paid for b) if the leaseholders have a dispute with the managing agents you will need to have all the details Most Llandyrnog leasehold properties will incur a service charge for the upkeep of the building levied by the freeholder. Should you acquire the flat you will have to pay this amount, usually quarterly throughout the year. This can be anything from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. In all likelihood there will be a rentcharge to be met yearly, this is usually not a exorbitant sum, say about £50-£100 but you should to enquire it because occasionally it can be many hundreds of pounds.
Been on the hunt for a conveyancer for freehold sale conveyancing in Llandyrnog. We are selling, uncomplicated no mortgage to discharge, no hurry, currently vacant. Received a quote from a solicitor for £900 including VAT which is a tad high given that its so straightforward. Is it possible to find less expensive fees for conveyancing in Llandyrnog?
Given that it’s a sale only, £500 + VAT is likely to be about the best for a Llandyrnog solicitor firm.