I am the registered owner of a freehold premises in Resolven but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Resolven and has limited impact for conveyancing in Resolven 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 many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I'm the sole recipient of my late mum's will with all property in now in my sole name, including the my former home in Resolven. The Resolven property was put into my name in July. I want to move. I do know about the CML six month 'rule', meaning my property ownership may be regarded the same way as though I had purchased the house in July. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. How practical a view banks take of it, depend on the mortgage company as this obligation primarily exists to pick up on subsales or the wholesaling and assigning of property.
We were going to get a AIP from HSBC this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do HSBC recommend any Resolven solicitors on the HSBC conveyancing panel, or is it better to go independently?
You will need to appoint Resolven solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
Intending to buy a maisonette in Resolven. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Resolven conveyancer is on the Nationwide conveyancing panel.
The deeds to my house are lost. The conveyancers who dealt with the conveyancing in Resolven 4 years ago have long since closed. What are my options?
Nowadays there are copies made of almost everything, and your conveyancer will know exactly where to look for all the relevant documentation so you may buy or dispose of your property without a hitch. If copies are not available, your solicitor may be able to put in place insurance or indemnities against future claims on your premises.
I need to instruct a conveyancing solicitor in Resolven for my sale. Can I check a firm’s complaints history with the profession’s regulator?
You may review published Solicitor Regulator Association (SRA) determinations arising from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. To find records Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The regulator could recorded telephone calls for training purposes.
I only have Seventy years left on my flat in Resolven. I need to get lease extension but my freeholder is absent. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you have done all that could be expected to locate the freeholder. For most situations an enquiry agent would be useful to carry out a search and to produce an expert document which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Resolven.
I acquired a ground floor flat in Resolven, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Resolven with a long lease are worth £221,000. The ground rent is £50 per annum. The lease ends on 21st October 2096
With only 70 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 plus legals.
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. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
Do lenders provide you with an approved list of Resolven solicitors? How do you know who is on the lender conveyancing panel?
Resolven firms and firms carrying out conveyancing in Resolven themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the lender directly.