I own a freehold premises in Stapleford but still charged rent, why is this and what is this?
It is rare for properties in Stapleford and has limited impact for conveyancing in Stapleford 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 creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
My husband and I have arranged a further advance on our mortgage from RBS as we wish to carry out a loft conversion to our home in Stapleford. Do we need to select a nearby Stapleford solicitor on the RBS conveyancing panel to handle the paperwork?
RBS would not normally require a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS conveyancing panel.
I recently had an offer agreed on a house in Stapleford. My financial adviser recommended their conveyancers. I paid an upfront payment of £225. Not long after, the property lawyer called me embarrassingly acknowledging that they were not on the Clydesdale 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 Clydesdale 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.
About to purchase house in Stapleford. 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 HSBC 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 Stapleford lawyer is on the HSBC conveyancing panel.
I have justdiscovered that Arc property Solicitors have been shut down. They conducted my conveyancing in Stapleford for a purchase of a freehold house 12 months ago. How can I establish that my home is in my name in the name of the previous owner?
The easiest way to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Stapleford conveyancing specialists.
I'm converting the mortgage on my primary house to a BTL loan with Clydesdale and I will use the rest of the raised equity towards a second property. The area we are looking at is Stapleford. Will your lawyers be able to act for the two lenders and link together the transactions?
Make use of our search tool on this site to ensure that the solicitors are on the appropriate lender panels. Assuming that they are your solicitor should be able to simultaneously deal with the two deals but you should have a chat with you conveyancer and make clear your expectations and requirements.
As co-executor for the estate of my uncle I am disposing of a house in Neath but live in Stapleford. My solicitor (approximately 235 kilometers awayrequires that I sign a stat dec ahead of the transaction finalising. Could you suggest a conveyancing practitioner in Stapleford to witness and place their company stamp on the document?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are based in Stapleford
Do you have any advice for leasehold conveyancing in Stapleford from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Stapleford can be bypassed if you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ conveyancers. If you hold a share in a the freehold, you should make sure that you have the original share certificate. Arranging a re-issued share certificate can be a lengthy process and slows down many a Stapleford conveyancing transaction. If a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later. Some Stapleford leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors. The majority of freeholders or Management Companies in Stapleford charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Stapleford. If there is a history of conflict with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be warry about purchasing a property where a dispute is unresolved. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
I bought a ground floor flat in Stapleford, conveyancing formalities finalised in 2003. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Stapleford with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2079
You have 53 years remaining on your lease the likely cost is going to span between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.