I own a freehold house in Shillington yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Shillington and has limited impact for conveyancing in Shillington 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 new rentcharges post 1977.
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 dispensed with completely.
is it true that all Shillington solicitors on the Yorkshire BS conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Yorkshire BS conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. The majority of lenders do list licenced conveyancers on their panel in which case such firms would be overseen by the Council of Licensed Conveyancers.
We have a mortgage agreed in principle with Santander. Shillington conveyancing practitioners are selected. What is the average time that one could expect to receive a mortgage offer from Santander?
There is no definitive answer here. Have Santander completed the survey? Have you informed Santander as to your lawyers' details and checked that your lawyers are on the Santander conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Nationwide have agreed my mortgage in principle, my offer on a apartment in Shillington has been agreed to, what are the next steps?
Your property agent will need to be informed of your lawyer's details (ensure that the conveyancers are on the lender’s approved list). Telephone Nationwide or your financial adviser and finish off any appropriate paperwork. Nationwide will appoint a valuer who will get in touch with the estate agent or owners to arrange an appointment. Once carried out (assuming no problems) it takes on average a fortnight to receive the mortgage offer. Nationwide will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Shillington.
Despite weeks of looking the Title Certificate and documents to our property are lost. The solicitors who conducted the conveyancing in Shillington 4 years ago no longer exist. Will I be able to sell the house?
As long as the title is registered the information relating to your ownership will be retained by the Land Registry with a Title Number. It is easy to perform a search at the Land Registry, identify your property and secure current copies of the property title for less than a fiver. Where the property is Leasehold then the Land Registry will in most cases retain a certified duplicate of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
How does conveyancing in Shillington differ for new build properties?
Most buyers of new build property in Shillington approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because developers in Shillington typically acquire the site, 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 Shillington or who has acted in the same development.
I have just started marketing my basement flat in Shillington. Conveyancing is yet to be initiated, but I have recently received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you pay the service charge as usual as all rents and service charges should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a studio flat in Shillington, conveyancing was carried out February 2001. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Shillington with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 per annum. The lease ends on 21st October 2077
With 52 years left to run the likely cost is going to be between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.
I have read on a number of online forums that when selecting a conveyancing lawyer they must be approved by your bank. It happens to be my first home move but I have an offer in principle with Santander and I already have a family conveyancing solicitor in Shillington on standby. Can Birmingham Midhshires require an approved lawyer to be selected? Does a directory of approved conveyancers even exist so I can pick a conveyancing solicitor in Shillington?
You need to instruct a solicitor that is on the Birmingham Midhshires panel. The first thing to do is call your chosen Shillington conveyancing lawyer and ask if they are on the Birmingham Midhshires panel. If they are not on the panel you have a couple of choices open to you here:
- Carry on with your existing Shillington solicitor but Birmingham Midhshires will need to instruct a conveyancing practitioner on their conveyancing panel. This will result in additional charges together with likely delay.
- Appoint a fresh lawyer to conduct the conveyancing, making sure they are on the Birmingham Midhshires conveyancing panel.
- Convince your conveyancer to do everything possible to get accepted on the Birmingham Midhshires conveyancing panel.