I own a freehold premises in Pencoed but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Pencoed and has limited impact for conveyancing in Pencoed 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 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 extinguished.
My bid for a property was accepted at auction in Pencoed. Conveyancing is necessary. What are my next steps?
Having to in every practical sense signed on the dotted line you must find a conveyancing solicitor as a matter of urgency as you are faced with a fast approaching a fixed date to complete the conveyancing. An auction property will have a bespoke auction pack. This will likely include evidence of title and search results. Where you are dealing with leasehold premises the legal papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You must pass this on to the conveyancer working for you as soon as possible. Do make sure that your finances are organised to complete on the on the contractual date .
We have a mortgage agreed in principle with UBS. Pencoed conveyancing solicitors have been chosen. How long does it take for UBS to forward the offer to the solicitor?
There is no definitive answer here. Have UBS conducted the survey? Have you informed UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I recently had an offer agreed on a house in Pencoed. My financial adviser recommended their conveyancers. I paid an on account payment of £150. A couple of days later, the lawyer contacted me sheepishly admitting that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I require fast conveyancing in Pencoed as I am under an ultimatum to sign on the dotted line inside 4 weeks. A mortgage is not required. Can I escape the need for conveyancing searches to save money and time?
If.Given you are not obtaining a mortgage you have the choice not to do searches although no law firm would advise that you don't. With lots of history conveyancing in Pencoed the following are examples of issues that can appear and therefore affect market value: Enforcement Actions, Overdue Fees, Outstanding Grants, Railway Schemes,...
I'm purchasing my first flat in Pencoed with a mortgage from Leeds Building Society. The sellers refused to reduce the price so I negotiated £7000 of extras instead. The sale representative suggested that I not inform my solicitor about the deal as it will adversely affect my loan with Leeds Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Pencoed is the location of the property. Is there any advice you can impart?
Flying freeholds in Pencoed are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pencoed you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pencoed may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My husband and I are FTB’s - had an offer accepted, but the property agent advised that the vendor will only issue a contract if we appoint the agent's chosen solicitors as they want an ‘expedited deal’. Our preferred option is to instruct a family conveyancer accustomed to conveyancing in Pencoed
It is improbable the vendors are driving this. If they desire ‘a quick sale', turning down a motivated purchaser is not the way to achieve this. Bypass the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are ready to progress, with finances in place © you are unencumbered (d) you intend to proceed fast (e)but you are going to use your own,trusted Pencoed conveyancing firm - not the ones that will give the estate agent a commission or hit his conveyancing targets pre-set by HQ.