I own a freehold property in Skelmersdale yet charged rent, why is this and what is this?
It’s unusual for properties in Skelmersdale and has limited impact for conveyancing in Skelmersdale 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 hundreds of years, but the Rent Charge Act 1977 barred the generation 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 in 2037 will be extinguished.
My stepmother advised me that in buying a property in Skelmersdale there may be various restrictions as to what one can do in terms of external changes to the property. Is this right?
There are a number of properties in Skelmersdale which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Skelmersdale should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We previously appointed conveyancers with offices in Skelmersdale on the Lloyds solicitor approved list. They are now charging me a separate fee for handling the Lloyds mortgage. Is this an additional conveyancing fee set by Lloyds?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your conveyancer may levy a fee for this. The charge is not dictated by Lloyds but by your Skelmersdale property lawyer. Numerous firms on the Lloyds panel will charge an ‘acting for lender’ fee and others do not.
I am buying a property in Skelmersdale. An unusual aspect is that the roof has a solar panel. Nationwide have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Nationwide your lawyer must follow the conveyancing instructions outlined in Part 2 of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook includes minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to Nationwide where a lease fails to comply with these requirements. The requirements relate to the installation of panels on properties countrywide and is not limited to Skelmersdale.
I am close to exchanging contracts on the sale of our house in Skelmersdale and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A high street Skelmersdale lawyer would know this is not the case. For the life of me I don't know why the buyers are using a web based conveyancing practice rather than a conveyancing solicitor in Skelmersdale. We have lived in Skelmersdale for 4 years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing firm already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Skelmersdale is the location of the property. Is there any guidance you can give?
Flying freeholds in Skelmersdale are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Skelmersdale you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Skelmersdale may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
What are your top tips when it comes to choosing a Skelmersdale conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Skelmersdale conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Skelmersdale conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be useful:
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How many lease extensions have they carried out in Skelmersdale in the last year?
I acquired a studio flat in Skelmersdale, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Similar flats in Skelmersdale with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2090
With only 65 years remaining on your lease the likely cost is going to range between £13,300 and £15,400 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
My fiance and I are planning to purchase a four room housein Skelmersdale with a home loan from a bank. We have selected a solicitor in Skelmersdale but our lender says she’s not on their "panel". Apparently we need to choose one of the our lender panel solicitors or keep our Skelmersdale solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The bank mortgage offered to you is subject to conditions, one of which will be that lawyers will on the bank's conveyancing panel. Until recently, most banks had large numbers of law firms on their panels, including many conveyancing solicitors in Skelmersdale : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for your lender.