My partner and I are nearing an exchange on a house in Tonteg and my mum and dad have transferred the 10% deposit to my property lawyer. I am now advised that as the deposit has not arrived from me my solicitor needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
Your conveyancer is duty bound to check with lender to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I am the registered owner of a freehold premises in Tonteg but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Tonteg and has limited impact for conveyancing in Tonteg 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 many centuries, but the Rent Charge Act 1977 barred the creation 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 will be dispensed with completely.
Various online forums that I have visited warn that are a common cause of hinderance in Tonteg house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any delay in conveyancing in Tonteg.
Are there restrictive covenants that are commonly identified during conveyancing in Tonteg?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Tonteg. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How do I use your search facility to locate a conveyancing solicitor in Tonteg on the panel for my lender?
1st choose a lender such as Lloyds TSB Bank, Skipton Building Society or Godiva Mortgages Ltd then type in your location such as Tonteg. Conveyancing firms in Tonteg and further afield will then be identified.
Having had my offer accepted I require leasehold conveyancing in Tonteg. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Tonteg - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Tonteg - A selection of Questions you should ask Prior to buying
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Is the freehold reversion owned jointly by the leaseholders? Who are the managing agents? Are there any major works on the horizon that will likely add a premium to the maintenance charges?