I purchased a freehold property in Paulton yet pay rent, why is this and what is this?
It’s unusual for properties in Paulton and has limited impact for conveyancing in Paulton 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 creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
My brother-in-law has suggested I instruct a conveyancing solicitor in Paulton. I need to find out whether they are accepted on the Yorkshire Building Society approved list of lawyers. Can you or the lender confirm if they are on the panel?
The first thing to do is contact the conveyancer and enquire whether they can act for the lender. Otherwise you can call Yorkshire Building Society who may be able to assist.
Is it the case that all Paulton CQS (Conveyancing Quality Scheme) solicitors are on the Coventry BS conveyancing panel?
It is true that some banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
How can we tell if a Paulton conveyancing solicitor on the Nationwide panel is any good?
When it comes to conveyancing in Paulton obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer conducting your transaction.
My partner and I have organised the release of further monies on our mortgage from Co-operative as we intend to conduct a loft conversion to our home in Paulton. Are we obliged to choose a local Paulton solicitor on the Co-operative conveyancing panel to handle the legals?
Co-operative would not normally instruct firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative conveyancing panel.
Should commercial conveyancing searches disclose proposed roadworks that may affect a commercial site in Paulton?
Its becoming the norm that commercial conveyancing solicitors in Paulton will carry out a SiteSolutions Highways report as it reduces the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Paulton. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Paulton.
For every commercial conveyancing transaction in Paulton it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may cause delays to Paulton commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Paulton.
I have been on the look out for a leasehold apartment up to £195,000 and found one near me in Paulton I like with open areas and transport links nearby, the downside is that it only has 51 years unexpired on the lease. There is not much else in Paulton in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan the remaining unexpired lease term will be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
My father-in-law has urged me to use his lawyers for conveyancing in Paulton. Do I take his advice?
No doubt the ideal way to choose a conveyancing solicitor is to have guidance from friends or relatives who have actually previously instructed the firm that you are considering.