I am the registered owner of a freehold house in Porthmadog yet pay rent, why is this and what is this?
It is rare for properties in Porthmadog and has limited impact for conveyancing in Porthmadog 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 many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
What is the difference between a licensed conveyancer and conveyancing solicitor in Porthmadog
There are many registered licenced Conveyancers in Porthmadog and Solicitor partnerships in Porthmadog who provide Conveyancing services We would stress that both are regulated professionals specialising in the legal work in transferring property. They may both also deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Have just purchased a probate house at auction in Porthmadog. Conveyancing is required. What are my next steps?
Now that you have legally bound yourself to purchase you now have to instruct a conveyancing practitioner soon as you are facing a fast approaching a drop dead date to complete the conveyancing. An auction property will have an associated auction set of papers. This should include evidence of title and search results. In the case of leasehold property the auction papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You must pass this on to the solicitor instructed by you at the earliest opportunity. You also need to ensure that you have funds organised to complete on the on the contractual date .
We are getting a further advance on our mortgage from RBS as we wish to conduct a loft conversion to our home in Porthmadog. Do we need to select a high street Porthmadog solicitor on the RBS conveyancing panel to handle the paperwork?
RBS do not ordinarily appoint a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS conveyancing panel.
Will commercial conveyancing searches reveal impending roadworks that could affect a commercial property in Porthmadog?
Its becoming the norm that commercial conveyancing solicitors in Porthmadog will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Porthmadog. The search result provides definitive data 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 Porthmadog.
For every commercial conveyancing transaction in Porthmadog it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can result in delays to Porthmadog commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Porthmadog.
I am purchasing a new build house in Porthmadog with the aid of help to buy. The builders refused to reduce the amount so I negotiated £7000 of extras instead. The sale representative suggested that I not to tell my conveyancer about the deal as it will put at risk my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Due to the guidance of my in-laws I had a survey completed on a property in Porthmadog before instructing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some lenders will refuse to grant a mortgage on a flying freehold premises.
It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Porthmadog. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Porthmadog to see if the conveyancing will be more expensive.
I have been sourcing a conveyancing solicitor in Porthmadog for my house move. Is there any facility to review a firm’s record with the profession’s regulator?
Members of the public can read presented Solicitor Regulator Association (SRA) determinations stemming from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. For records Pre 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, dial +44 (0)121 329 6800. The regulator may recorded call for training purposes.