I am the registered owner of a freehold residence in Solva yet charged rent, why is this and what is this?
It’s unusual for properties in Solva and has limited impact for conveyancing in Solva 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 fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I have 70 years unexpired on my lease and require a lease extension for my flat in Solva. Conveyancing solicitors on the Platform panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 26/12/2024 the requirements read as follows :
I happen to be the only beneficiary of my late mum's will and I have everything in my name now, including the my former home in Solva. The Solva property was put into my name in November. I want to move. I do know about the CML 6 month 'rule', meaning my proprietorship may be considered the same way as though I had purchased the property in November. Is the property unsalable for six months?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. How practical a view mortgage companies take of it, depend on the bank as this provision chiefly exists to capture subsales or the flipping of properties.
I am buying a property in Solva. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender TSB be concerned?
Given that you are obtaining a mortgage with TSB your lawyer must check the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for TSB. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and solicitors are required to report to TSB where a lease does not satisfy these specifications. The provisions relate to the installation of panels on properties countrywide and is not isolated to Solva.
I recently had an offer accepted on an apartment in Solva. My mortgage broker pressured me to appoint their conveyancer. I paid an upfront payment of £150. A few days later, the property lawyer contacted me to say that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My colleague recommended that if I am buying in Solva I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Solva conveyancing searches. It is not a small document of more than thirty pages, listing and detailing significant information about Solva around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information concerning Solva.
Me and my brother have a semi-detached Victorian property in Solva. Conveyancing practitioner represented me and Aldermore. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Solva and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing practitioner who conducted the conveyancing.
Harry (my fiance) and I may need to rent out our Solva basement flat temporarily due to a career opportunity. We instructed a Solva conveyancing firm in 2002 but they have closed and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?
The lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Solva do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I invested in buying a basement flat in Solva, conveyancing formalities finalised 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Solva with an extended lease are worth £165,000. The average or mid-range amount of ground rent is £50 yearly. The lease terminates on 21st October 2101
With just 77 years remaining on your lease the likely cost is going to span between £7,600 and £8,800 as well as costs.
The figure above 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 the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.