I purchased a freehold residence in Llantwit Major but still pay rent, why is this and what is this?
It’s unusual for properties in Llantwit Major and has limited impact for conveyancing in Llantwit Major 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 many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
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 dispensed with completely.
How do I investigate if the solicitor handling my conveyancing in Llantwit Major is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Platform Home Loans Ltd thus paying £192.00 in additional legal fees.
Feel free to make use of the search tool on this site. Pick the lender and type ‘Llantwit Major’ or your preferred area and you will see numerous solicitors based in Llantwit Major or by proximity to you.
How does conveyancing in Llantwit Major differ for newly converted properties?
Most buyers of new build or newly converted property in Llantwit Major approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Llantwit Major usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Llantwit Major or who has acted in the same development.
I decided to have a survey carried out on a property in Llantwit Major in advance of appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some lenders will not grant a mortgage on such a premises.
It varies from the lender to lender. Santander has different requirements from Nationwide. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Llantwit Major. Conveyancing will be smoother if you use a solicitor in Llantwit Major especially if they are acquainted with such properties in Llantwit Major.
I am thinking of appointing a conveyancing practitioner in Llantwit Major for my house move. Is there any facility to check a firm’s complaints history with the legal regulator?
One may review published Solicitor Regulator Association (SRA) determinations arising from investigations commenced on or after Jan 2008. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The regulator may recorded call for training purposes.
Due to complete next month on a studio apartment in Llantwit Major. Conveyancing solicitors have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Llantwit Major should include some of the following:
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Who has the liability to repair and maintain the building. It is important for you to know which party is liable for the repair and maintenance of all parts of the block and communal areas Setting out your rights in respect of common areas in the block.By way of example, does the lease include a right of way over a path or staircase? Alterations to the premises Are you allowed to have a pet in the flat? Does the lease require carpeting throughout thus preventing wood flooring?
Leasehold Conveyancing in Llantwit Major - Sample of Questions you should ask before buying
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Is there a share of the freehold? What is the length of the lease? Make sure you enquire if there is anything that is prohibited in the lease. By way of example it is very common in Llantwit Major leases that pets are not permitted in certain buildings in Llantwit Major. If you like the apartmentin Llantwit Major but your cat can’t make the move with you then you will be presented with a hard compromise.