I purchased a freehold residence in Wilford yet pay rent, why is this and what is this?
It’s unusual for properties in Wilford and has limited impact for conveyancing in Wilford 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 creation 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 in 2037 is to be extinguished.
Are all Wilford Conveyancing Quality Solicitors on the Principality conveyancing list of approved solicitors?
Some major lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives 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 solicitors wishing to join their panels.
Is there a list of Lloyds panel solicitors in Wilford on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. A small selection of mortgage companies make their panel listings available over the internet. If you are looking for a Wilford property lawyer on the Lloyds please use our facility.
I am currently in the process of buying my council flat in Wilford. I have a mortgage offer with Santander. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
A relative recommended that if I am purchasing in Wilford I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Wilford conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Wilford around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Wilford Education with maps and statistics, Local Amenities and other useful information regarding Wilford.
I opted to have a survey carried out on a house in Wilford in advance of instructing lawyers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some lenders will refuse to grant a loan on such a home.
It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. If you call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Wilford. Conveyancing will be smoother if you use a solicitor in Wilford especially if they are acquainted with such properties in Wilford.
All being well we will complete the disposal of our £400,000 garden flat in Wilford in nine days. The managing agents has quoted £384 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Wilford?
Wilford conveyancing on leasehold maisonettes ordinarily necessitates administration charges invoiced by management companies :
-
Completing conveyancing due diligence questions
Where consent is required before sale in Wilford
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Wilford Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying
-
Plenty Wilford leasehold flats will be liable to pay a service charge for maintenance of the block levied on behalf of the freeholder. Where you buy the apartment you will have to pay this amount, normally in instalments accross the year. This may vary from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. In all likelihood there will be a ground rent to be met yearly, normally this is not a large figure, say around £50-£100 but you should to check as sometimes it could be prohibitively expensive. Who manages the block? Does the lease contain onerous restrictions?
There are a number of properties in Wilford on private lanes. We are purchasing such a property. What would be the pros and cons of purchasing a property on a privately owned road?
Wilford conveyancing lawyers are used to dealing propertieson private. Your solicitor should review the title to find any rights or liabilities. It is possible that there is a residents association that residents pay into for the upkeep of the road. If there is one, the road should be maintained and look better than council owned.