I am need of leasehold conveyancing for an apartment in a relatively new development (seven years built) in Raglan. Almost all the properties are already disposed of. Do I need carry out the neighbourhood searches as part of conveyancing in Raglan?
Conveyancing Searches are a critical link in the Raglan conveyancing process. There are numerous companies delivering Raglan conveyancing searches, as well straight from the local authority. These are usually referred to as personal search organisation and they produce, not surprisingly, personal searches. Nevertheless, all Local Authority Search conveyancing products have one thing in common - they must secure their information from the local authoritative source.
I own a freehold residence in Raglan but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Raglan and has limited impact for conveyancing in Raglan 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 creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
My wife and I are purchasing a property in Raglan. It might be a silly question but how we can trust a lawyer? On the day of competition we will need to deposit funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
A relative pointed out to me me that in buying a property in Raglan there could be various restrictions prohibiting external changes to a property. Is this right?
We are aware of anumerous of properties in Raglan which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Raglan should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Raglan bank branch on numerous occasions and was reassured it wasn't a problem and they will lend. My Raglan conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their specific requirements. Who do I believe?
Your property lawyer must follow the CML Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
How does conveyancing in Raglan differ for new build properties?
Most buyers of new build premises in Raglan approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Raglan usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Raglan or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Raglan before retaining lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some banks tend not issue a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. Should you wish to telephone us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Raglan. Conveyancing may be slightly more expensive based on your lender's requirements.
I am looking into buying my first house which is in Raglan and I am already nervous. I couldn't find anything specific about Raglan. Conveyancing will be needed in due course but do you know about the Raglan area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Raglan. In the meantime here are some basic statistics that we found