I own a freehold residence in Merthyr Tydfil but nevertheless pay rent, why is this and what is this?
It is rare for properties in Merthyr Tydfil and has limited impact for conveyancing in Merthyr Tydfil 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 establishment of fresh 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 after 2037 will be extinguished.
I am considering applying for a Clydesdale mortgage for purchase of a new build (under development) in Merthyr Tydfil with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Clydesdale ?
There is nothing to stop you using your solicitor, but Clydesdale will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
We are purchasing a apartment in Merthyr Tydfil. It might be a silly question but how we can trust a lawyer? On completion day we will need to put funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am expecting a AIP from Santander this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Santander recommend any Merthyr Tydfil solicitors on the Santander conveyancing panel, or is it better to go independently?
You will need to appoint Merthyr Tydfil solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
HSBC have agreed my mortgage in principle, my offer on a property in Merthyr Tydfil has been accepted, what happens next?
Your estate agent will wish to know who your solicitors are (ensure that the lawyers are on the bank’s panel). Contact HSBC or your financial adviser and finish off any outstanding forms. HSBC will appoint a valuer who will get in touch with the selling agent or vendor to arrange a time for the valuation to happen. Once conducted (assuming no problems) it takes approximately ten days to receive the mortgage offer. HSBC will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Merthyr Tydfil.
I require quick conveyancing in Merthyr Tydfil as I am under pressure to sign on the dotted line in less than 2 weeks. A home loan is not required. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are not getting a home loan you are at liberty not to have searches carried out although no solicitor would advise that you don't. With plenty of history conveyancing in Merthyr Tydfil the following are instances of what can arise and therefore affect the marketability of the property: Enforcement Notices, Overdue Fees, Overdue Grants, Unadopted Roads,...
Do you have any top tips for leasehold conveyancing in Merthyr Tydfil from the point of view of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Merthyr Tydfil can be bypassed if you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers’ lawyers. Many landlords or managing agents in Merthyr Tydfil levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Merthyr Tydfil. If there is a history of conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unsettled. If you are supposed to have a share in the Management Company, you should ensure that you have the original share certificate. Organising a replacement share certificate is often a lengthy formality and delays many a Merthyr Tydfil conveyancing deal. If a duplicate share certificate is required, do contact the company officers or managing agents (if relevant) for this sooner rather than later.
Merthyr Tydfil Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing
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How much is the yearly maintenance fee and ground rent? Who manages the building? Are any of leasehold owners in dispute over their service charge payments?
I am purchasing a flat and cash is in place. I have provided solicitor with 2 separate evidence of photographic ID, bank statement, numerous utility bills. Now he wants a copy from a probate lawyer acknowledging that the money is in order 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 Merthyr Tydfil conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.