I am expecting a mortgage offer from Halifax. I hope to employ the services of a Licensed Conveyancer in Stanley. Does the Halifax Solicitor panel exclude conveyancers regulated by the CLC?
The Halifax approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I have given 2 months notice to my existing landlord and have to vacate my rented property in Stanley by the end of next month. Conveyancing for my house purchase has just started. Is it possible to complete in six weeks as I wish to avoid having to find short term accommodation?
The normal practice is not to serve notice on a rental unless you have exchanged. If you have not already done so, speak to your lawyer and ask them to they cajole the owners solicitors, try to get a realistic time scale from them that everyone will aim to achieve
I purchased a freehold residence in Stanley but still pay rent, why is this and what is this?
It is rare for properties in Stanley and has limited impact for conveyancing in Stanley 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 lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
Can you clarify what the consequences are if my solicitor is removed from the Virgin Money Conveyancing panel ahead of completing my conveyancing in Stanley?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
My colleague advised me that where I am purchasing in Stanley I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Stanley conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Stanley around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Stanley Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Stanley.
I have recently realised that I have Sixty One years unexpired on my flat in Stanley. I am keen to extend my lease but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the lessor. In some cases a specialist may be useful to try and locate and to produce a report which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court covering Stanley.
I own a studio flat in Stanley, conveyancing having been completed half a dozen years ago. 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 properties in Stanley with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2095
With only 70 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as costs.
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 a more accurate figure without more comprehensive due diligence. 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 you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.