I am the registered owner of a freehold property in Port Talbot but still pay rent, why is this and what is this?
It is rare for properties in Port Talbot and has limited impact for conveyancing in Port Talbot 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 creation of new 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 is to be extinguished.
When it comes to mortgage companies such as Clydesdale, do Port Talbot property lawyers have to pay a yearly amount to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I'm in the throws of viewing houses in Port Talbot and I am now considering a potential offer. Is it sensible to have my lawyer on ‘stand by’? I am planning to take a mortgage with TSB.
It would be advisable to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are obtaining a mortgage with TSB, make sure you remember to check that your lawyer is on the TSB conveyancing panel.
After much negotiation I have agreed a price on an apartment in Port Talbot. My mortgage broker suggested a conveyancing practitioner. I paid an upfront payment of £200. A couple of days later, the solicitor called me embarrassingly acknowledging that they were not on the UBS 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 UBS 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.
Is it necessary to take out insurance to address the risk of chancel repairs when purchasing a property in Port Talbot?
Unless a prior purchase of the property took place after 12 October 2013 you may expect conveyancing practitioners handling conveyancing in Port Talbot to remain encouraging a chancel search and or chancel repair liability insurance.
I opted to have a survey carried out on a house in Port Talbot in advance of appointing conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some banks tend refuse to give a mortgage on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to call us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Port Talbot. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been advised by three or four local selling agents in Port Talbot to choose a solicitor on your site. Is there a financial upside for Estate Agents to market your lawyers over and above a competitor’s?
We don’t offer any financial incentive for directing people our way. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to appoint a conveyancing solicitor for my conveyancing in Port Talbot. I've land on a site which looks to be the ideal answer If it is possible to get all formalities completed via web that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?