We are purchasing our first property. Our property lawyer has messagedto enquire if we would like to take out extra conveyancing searches. Unfortunately we are clueless as to what's relevant for conveyancing in Street
The scope of Street conveyancing searches depends primarily on the premises, the location, the possibility of any of these risks, your familiarity of the locality and risks, your general attitude to risk. What is important is that you properly understand what information the searches could provide. Then you can decide if you personally think you need that information. Should you be unsure, ask the conveyancer to recommend.
I own a freehold house in Street yet pay rent, why is this and what is this?
It is rare for properties in Street and has limited impact for conveyancing in Street 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 establishment of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
When it comes to mortgage companies such as UBS, do Street solicitors have to pay a fee to be on the list of approved solicitors?
We are not aware of any bank fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
After months of negotiation I have agreed a price on a house in Street. My mortgage broker recommended their conveyancers. I paid an on account payment of £200. A few days later, the lawyer contacted me to say that they were not on the Principality 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 Principality 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.
Bank of Ireland have agreed my mortgage in principle, my bid on a house in Street has been accepted, now what?
The property agent will wish to be informed of your property lawyer's details (make sure the property lawyers are on the bank’s approved list). Call up Bank of Ireland or the broker and finish off any appropriate forms. Bank of Ireland will appoint a valuer who will get in touch with the selling agent or vendor to book a slot for the valuation to occur. Once conducted (assuming no problems) it takes on average ten days to receive the mortgage offer. Bank of Ireland will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Street.
I need some quick conveyancing in Street as I am faced with pressure to exchange contracts in less than 4 weeks. A mortgage is not required. Can I avoid the conveyancing searches to save money and time?
As you are not obtaining a mortgage you have the choice not to do searches although no solicitor would suggest that you don't. Drawing on years of experience of conveyancing in Street the following are examples of issues that can arise and adversely affect market value: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...
I am buying a new build apartment in Street. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Street
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Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision.
In what way does the Landlord & Tenant Act 1954 impact my commercial offices in Street and how can your lawyers assist?
The particular law that you refer to affords a safeguard to commercial leaseholders, giving them the legal entitlement to make a request to court for a new lease and remain in occupation at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Street is one of the numerous areas of the UK in which the firms we work with are located