The loan agreement from HSBC for the refinancing of my 4 bedroom apartment is expected within the next few days. Could you put forward a cheap conveyancing lawyer in Willen?
You have arrived at the wrong site to search for cut-price fees for conveyancing solicitors in Willen. Our aim is to provide cost effective conveyancing but we do not aim to advertise as being the cheapest. Avoid the trap of appointing organisations enticing you with low cost conveyancing in Willen. The optimum outcome, in choosing a lawyer for low cost conveyancing, you will get your money’s worth and at worst it will result in you with a hefty uplift in extras and still not receive the service you were hoping for.
I own a freehold property in Willen yet charged rent, why is this and what is this?
It’s unusual for properties in Willen and has limited impact for conveyancing in Willen 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 new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I have a 4 bedroom Edwardian house in Willen. Conveyancing practitioner represented me and Birmingham Midshires. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold under the exact same property. Is it worth asking Birmingham Midshires to clarify?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Willen and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing lawyer who carried out the work.
I am purchasing my first flat in Willen benefiting from help to buy. The builders refused to reduce the amount so I negotiated £7000 of additionals instead. The house builders rep told me not to tell my conveyancer about this side-deal as it could impact my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Willen is the location of the property. What do you suggest?
Flying freeholds in Willen are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Willen you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Willen may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Are there common defects that you witness in leases for Willen properties?
There is nothing unique about leasehold conveyancing in Willen. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:
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Maintenance charge proportions which don’t add up to the correct percentage Repairing obligations to or maintain elements of the premises
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Bank of Scotland, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.
I acquired a 2 bed flat in Willen, conveyancing having been completed 6 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Willen with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2078
You have 53 years unexpired we estimate the price of your lease extension to range between £27,600 and £31,800 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.