I own a freehold residence in Wennington but nevertheless pay rent, why is this and what is this?
It is rare for properties in Wennington and has limited impact for conveyancing in Wennington 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Me and my partner are buying a apartment in Wennington. I might seem paranoid but how we can trust a solicitor? At some point we will need to put our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it correct that all Wennington CQS (Conveyancing Quality Scheme) solicitors are on the Bank of Ireland conveyancing list of approved firms?
It is true that some banks and building societies now make use of CQS as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
Does a directory service exist listing Co-operative panel solicitors in Wennington on the Building Society Association’s Website?
No. There is no such directory service on the CML or Building Society Association sites. Very few lending institutions make their panel listings visible over the internet. If you are seeking to appoint a Wennington solicitor on the Co-operative please use our tool.
My wife and I are close to exchanging contracts on the sale of our house in Wennington and according to the buyers it appears that there is a risk of it being built on contaminated land. A high street Wennington lawyer would know that there is no such problem. For the life of me I don't know why the purchasers used a nationwide conveyancing practice as opposed to a conveyancing solicitor in Wennington. We have lived in Wennington for six years we know of no issue. Should we get in touch with our local Authority to obtain confirmation need.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I have been on the look out for a leasehold apartment up to £245,000 and found one close by in Wennington I like with amenity areas and station nearby, the downside is that it's only got 61 years on the lease. There is not much else in Wennington for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage the shortness of the lease may be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
How do I locate a Wennington law firm on the Bank of Ireland conveyancing panel? I am a keen cyclist and am willing to travel upto 10miles to meet the lawyer.
Feel free to make use of the tool on this website. Please choose the mortgage company and your location and you will see a number of Wennington conveyancing lawyers locally. We have detailed some Wennington conveyancing firms at the bottom of this page and you can telephone them to see whether they are on the Bank of Ireland panel
Can you offer any advice when it comes to appointing a Wennington conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Wennington conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggest that you speak with two or three firms including non Wennington conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be helpful:
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How experienced is the firm with lease extension legislation?
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Wennington conveyancing firm to help?
Where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to calculate the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Wennington property is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The remaining number of years on the lease was 76 years.