My wife and I are soon to exchange on the purchase of a house in Thrapston but as a consequence of damage from the recent storms I have managed to agree recompense from the vendor in the sum of three thousand pounds taking the form of a adjustment in the price. I had intended this to be addressed as part of amending the contract yet Bank of Ireland will not permit this. Why were they notified?
The conveyancer that is on the Bank of Ireland approved list is obliged to inform Bank of Ireland of any amendments to the purchase price. If you prohibit your conveyancer to report the price change to Bank of Ireland then they would have to discontinue acting for you. In addition, Bank of Ireland and you would have to appoint a new solicitor for your conveyancing in Thrapston.
I purchased a freehold residence in Thrapston but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Thrapston and has limited impact for conveyancing in Thrapston 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 new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
What is the optimum way to discover of the solicitor handling my conveyancing in Thrapston is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus spending £187.00 plus VAT in supplemental legal fees.
You should take advantage of the find a lender approved solicitor tool on this web page. Pick the lender and type ‘Thrapston’ or your location and you will be presented with numerous solicitors based in Thrapston or near you.
My father has urged me to use his conveyancing solicitors in Thrapston. Do I take his guidance?
No doubt it’s preferable to choose a conveyancing solicitor is to seek recommendations from friends or relatives who have actually previously instructed the conveyancer you're are thinking of instructing.
I've recently bought a leasehold property in Thrapston. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a ground floor flat in Thrapston, conveyancing having been completed in 1998. Can you work out an approximate cost of a lease extension? Equivalent flats in Thrapston with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease finishes on 21st October 2084
With just 59 years remaining on your lease the likely cost is going to span between £20,900 and £24,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
A conveyancing company dealt with my conveyancing in Thrapston half a dozen years ago and was holding my registration documents but has now closed – What steps do I now take to get hold of these?
Deeds, as such, are no longer appropriate for the majority of homes in Thrapston are registered electronically at Land Registry. Should you need to establish ownership or are selling or refinancing your lawyer should obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned with reasonable haste.