I own a freehold premises in Machen but still pay rent, why is this and what is this?
It’s unusual for properties in Machen and has limited impact for conveyancing in Machen 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 generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I am assisting my aunt sell her flat in Machen. Does the conveyancing solicitor commission the energy performance certificate or should I organise this?
After the abolition of HIPs, EPC’s was kept a compulsory component of moving house. An energy performance certificate must be commissioned in advance of the property being placed on the market. This is not a task that law firms normally organise. If you are using a Machen conveyancing practitioner they may be able to arrange energy assessments given their relationships with reputable local providers
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Machen property lawyer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
About to purchase apartment in Machen. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Yorkshire BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Machen lawyer is on the Yorkshire BS conveyancing panel.
I need some fast conveyancing in Machen as I am under an ultimatum to exchange contracts within one month. A home loan is not required. Can I avoid the conveyancing searches to save money and time?
As you are are a mortgage free purchaser you have the choice not to have searches conducted although no law firm would advise that you don't. With lots of history conveyancing in Machen the following are examples of issues that can crop up and therefore impact future saleability: Refused Planning Applications, Overdue Charges, Overdue Grants, Railway Schemes,...
How does conveyancing in Machen differ for new build properties?
Most buyers of new build residence in Machen approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Machen tend to acquire the real estate, 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 conveyancers 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 accustomed to new build conveyancing in Machen or who has acted in the same development.
My husband and I are FTB’s - had an offer accepted, yet the estate agent informed us that the vendor will only issue a contract if we use their chosen solicitors as they want an ‘expedited deal’. Our preferred option is to instruct a family conveyancer who is familiar with conveyancing in Machen
It is improbable the sellers are behind this. If they desire ‘a quick sale', taking such a hostile approach to a motivated buyer is counter productive. Try to communicate with the owners directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you intend to use your own,trusted Machen conveyancing lawyers - not the ones that will give their negotiator at the agency a kickback or hit his conveyancing figures set by corporate headquarters.
I am buying a flat and cash is in place. I have provided lawyer with 2 distinct proof of photo ID, bank statement, multiple utility bills. Now he wants a copy from a probate lawyer stating that the money is legitimate and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Machen conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.