My financial adviser has asked me for my Rustington solicitor’s panel reference for the Lloyds conveyancing panel. How do I discover this. I have contacted my local Rustington office but they cant find it on their system.
You are best placed to get this information from your Rustington conveyancing practitioner . Most Rustington law practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
I purchased a freehold property in Rustington yet pay rent, why is this and what is this?
It is rare for properties in Rustington and has limited impact for conveyancing in Rustington 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 establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Will my lawyer be asking questions concerning flooding during the conveyancing in Rustington.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Rustington. Some people will purchase a property in Rustington, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, but there are a number of checks that may be undertaken by the buyer or by their lawyers which will figure out the risks in Rustington. The conventional set of property information forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the vendor to determine whether the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the seller, then a buyer may issue a compensation claim as a result of such an misleading reply. The purchaser’s solicitors will also order an enviro report. This should reveal whether there is any known flood risk. If so, further investigations will need to be made.
Over the last few months I have been searching for a flat up to £245,000 and identified one round the corner in Rustington I like with open areas and station in the vicinity, however it's only got 61 remaining years left on the lease. I can't really find anything else in Rustington in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the shortness of the lease will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
I am looking for a conveyancing lawyer in Rustington for my home move. Is it possible to review a firm’s complaints history with the profession’s regulator?
One may read documented Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The regulator could recorded telephone calls for training requirements.
Last November I purchased a leasehold house in Rustington. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a 1 bedroom flat in Rustington, conveyancing formalities finalised 10 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Rustington with a long lease are worth £211,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2093
With 68 years left to run the likely cost is going to range between £9,500 and £11,000 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.