I was informed recently by my broker that my Upminster the law firm I have appointed is not on the bank Solicitor panel. How can I be sure if this is correct?
You need to call your Upminster lawyer directly. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
I am the registered owner of a freehold property in Upminster but still pay rent, why is this and what is this?
It is rare for properties in Upminster and has limited impact for conveyancing in Upminster 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 generation 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 will be extinguished.
Various online forums that I have frequented warn that are the number one reason for delay in Upminster house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays in the conveyancing process. Local searches are unlikely to feature in any holding up conveyancing in Upminster.
I decided to have a survey completed on a house in Upminster ahead of instructing conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some banks tend not grant a loan on such a premises.
It varies from the lender to lender. Santander has different instructions from Nationwide. Should you wish to call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Upminster. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Upminster to see if the conveyancing costs will increase in light of this.
Is there anything unique about your site and alternative online quote calculators when it comes to conveyancing in Upminster?
At this site obtain an accurate quote via a Solicitor or Licensed Conveyancer that has a full understanding of the nuances for your conveyancing in Upminster. As opposed to estate agents and brokerage sites we do not operate commission deals with solicitors. A large number of agents and online brokers 'recommend' solicitors paying the highest kickback, as opposed to the best value conveyancing in Upminster
I am attracted to a two flats in Upminster which have approximately fifty years left on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Upminster. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease decreases and it becomes more costly to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area.
I inherited a garden flat in Upminster. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
You certainly can. We can put you in touch with a Upminster conveyancing firm who can help.
An example of a Lease Extension case for a Upminster property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired term as at the valuation date was 57.5 years.