I am in a contract race with another prospective purchaser for a property in Uckfield. What can be done to quicken up the legal process?
In the event that you are under time constraints to exchange we would recommend that your solicitor is familiar with the location as they will benefit local relationships and insight. It is possible that they would have handled previoushomes in the same neighbourhood. Therefore consider using a Uckfield conveyancing solicitor. Second, make sure that the conveyancing firm is on the on the approved list for your mortgage company. It is understood that 18% of Uckfield conveyancing transactions are suspended or jeopardised after finding out that a purchaser’s lawyer was not on their mortgage lender’s list of approved solicitors. In many cases this discovery resulted in the legal transfer of property being held up by as much as 21 days. It is said that this issue impacts in the region of 100,000 home sales every year. Many Uckfield conveyancing firms can not act for certain lenders so do check at the outset.
I purchased a freehold property in Uckfield but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Uckfield and has limited impact for conveyancing in Uckfield 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 have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished 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 Conveyancer in Uckfield is not on the The Royal Bank of Scotland Solicitor Panel. Is it possible for me to use my prefered solicitor even though they are not on the The Royal Bank of Scotland approved list?
Your options are as follows:
- Carry on with your existing Uckfield solicitors but The Royal Bank of Scotland will need to instruct a lawyer on their list of acceptable firms. This will inevitably rack up the total conveyancing charges as well as result in frustration.
- Find a new solicitor to act in the purchase, not forgetting to check they are The Royal Bank of Scotland approved.
- Persuade your The Royal Bank of Scotland based solicitor to try to join the The Royal Bank of Scotland panel
I opted to have a survey completed on a house in Uckfield in advance of appointing lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some banks tend not give a loan on such a premises.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. If you call us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Uckfield. Conveyancing may be slightly more expensive based on your lender's requirements.
I am thinking of appointing a conveyancing lawyer in Uckfield for my home move. Is it possible to check a solicitor's complaints history with the legal regulator?
You may review documented Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Visit Check a solicitor's record. For records Pre 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The regulator may monitor telephone calls for training purposes.
I've recently bought a leasehold house in Uckfield. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner 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 be sure 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 own a basement flat in Uckfield, conveyancing having been completed April 2002. How much will my lease extension cost? Comparable flats in Uckfield with an extended lease are worth £197,000. The ground rent is £55 per annum. The lease comes to an end on 21st October 2080
With only 55 years unexpired we estimate the price of your lease extension to be between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.