I am the registered owner of a freehold premises in Penrhyndeudraeth yet pay rent, why is this and what is this?
It’s unusual for properties in Penrhyndeudraeth and has limited impact for conveyancing in Penrhyndeudraeth 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 generation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
Is it necessary during the course of the conveyancing process to pop into the offices of the solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Penrhyndeudraeth so that I can attend their offices if necessary.
Most approved lawyers for mortgage companies undertake the vast majority of work via Royal Mail, e-mail or over the phone. This means that they can undertake the conveyancing transaction no matter where you live in England or Wales. However you should see if you can still book an appointment to visit conveyancing lawyer if you prefer.
Have just purchased a repossessed house at auction in Penrhyndeudraeth. Conveyancing is required. What are my next steps?
Given that you are now exchanged you must appoint a conveyancing solicitor quickly as you are faced with a tight deadline in which to complete the purchase. Every auction property should have an associated legal pack. This will include evidence of title and search results. In the case of leasehold premises the conveyancing pack may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to a leasehold property. You must pass this on to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that your finances are organised to complete the transaction on the set completion date.
I am due to move home in April. Does my conveyancing solicitor communicate with the removal company on the completion day. On a separate note, can you recommend a removal company in Penrhyndeudraeth. Conveyancing solicitor was found before I stumbled across your site.
On the day of completion you can collect the house keys from your property agent but this can only take place after the vendors solicitors inform the agent that they have the completion monies and the keys can be passed over. Subsequently you should tell the removal men that they can start moving you in. We do not suggest a particular removal company but can help you locate a conveyancing in Penrhyndeudraeth or a lawyer that specialises in conveyancing in Penrhyndeudraeth.
Last month we had a mortgage agreed in principle with RBS. Penrhyndeudraeth conveyancing lawyers are instructed. How long does it take for RBS to issue the offer to the solicitor?
Some lenders take longer than others. Have RBS conducted the valuation? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am planning on selling our property in Penrhyndeudraeth and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local lawyer would know this is not the case. For the life of me I don't know why the purchasers are using an internet conveyancing firm rather than a conveyancing solicitor in Penrhyndeudraeth. Having lived in Penrhyndeudraeth for three years we know of no issue. Is it a good idea to contact our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Over the last few months I have been searching for a flat up to £245,000 and identified one near me in Penrhyndeudraeth I like with open areas and transport links nearby, the downside is that it's only got 52 years on the lease. There is not much else in Penrhyndeudraeth suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a home loan the shortness of the lease will be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
I’m about to sell my 2 bed flat in Penrhyndeudraeth. Conveyancing is yet to be initiated, however I have recently had a half-yearly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as normal as all rents and maintenance invoices will be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am the registered owner of a 1 bedroom flat in Penrhyndeudraeth, conveyancing formalities finalised July 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Penrhyndeudraeth with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 yearly. The lease expires on 21st October 2085
With 59 years left to run the likely cost is going to be between £20,900 and £24,200 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.