IfI were to acquire a straightforward propertyin Southwold for cash and dispense with a survey and no local authority searches how much could I expect to have to pay for conveyancing in Southwold?
The sole saving you would achieve is the Southwold conveyancing searches. The conveyancing practitioner still be obliged to do everything else - money laundering, communicating with the vendors solicitor, SDLT submission, register the property etc. A slight saving might be made by not having to register a mortgage but it won't be significant.
I am the registered owner of a freehold house in Southwold yet pay rent, why is this and what is this?
It is rare for properties in Southwold and has limited impact for conveyancing in Southwold 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I am helping my aunt sell her flat in Southwold. Does the solicitor order an energy assessment or it is for the seller to coordinate?
Following the abolition of Home Information Packs, EPC’s was maintained a required part of selling a house. An EPC needs to be commissioned prior to the property being placed on the market. This is not something that law firms normally arrange. Where you are instructing a Southwold conveyancing solicitor they might help arrange EPC’s given their relationships with reputable local providers
I am the single beneficiary of my late mum's will with all property in now in my sole name, including the my former home in Southwold. Conveyancing formalities meant that the Land Registry date was in September. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', meaning my proprietorship will be regarded the same way as if I'd bought the property in September. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. Some lenders would take a pragmatic view as this provision is primarily there to identify the purchase and immediately sell or the flipping of property.
Planning on purchasing a flat in Southwold. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender 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 Southwold solicitor is on the Nationwide conveyancing panel.
I need some expedited conveyancing in Southwold as I have an ultimatum to sign on the dotted line within 3 weeks. A mortgage is not required. Can I decline from having conveyancing searches to save fees and time?
As you are not obtaining a home loan you are at free not to have searches carried out although no lawyer would suggest that you don't. With lots of history conveyancing in Southwold the following are examples of issues that can crop up and therefore affect future mortgageability: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...
I used Arc property Solicitors a few years past for my conveyancing in Southwold. Now, I need my files but the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Southwold of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I wish to rent out my leasehold apartment in Southwold. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A lease dictates the relationship between the freeholder and you the flat owner; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Southwold do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I inherited a garden flat in Southwold, conveyancing was carried out in 2011. 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? Similar properties in Southwold with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease terminates on 21st October 2081
With 56 years unexpired we estimate the price of your lease extension to be between £29,500 and £34,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.