I am the registered owner of a freehold residence in Wilton but still pay rent, why is this and what is this?
It is rare for properties in Wilton and has limited impact for conveyancing in Wilton 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 new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
What is the difference between a licensed conveyancer and conveyancing solicitor in Wilton
Two types of professional can execute conveyancing in Wilton namely licenced conveyancers or solicitors. The two can handle conveyancing services that you need to complete the disposal or purchase of property. They are both required to conduct Wilton conveyancing to the same standards and guidelines so you can be safe in the knowledge that your conveyancing will be professionally carried out and that the requirements and steps will be appropriately taken.
The formalities of my purchase has taken place for my property in Wilton. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I recently had an offer accepted on an apartment in Wilton. My financial adviser recommended their conveyancers. I paid an advanced payment of £150. Soon after, the lawyer called me to say that they were not on the Skipton conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have todayfound out that Wolstenholmes have been shut down. They conducted my conveyancing in Wilton for a purchase of a leasehold flat 12 months ago. How can I be sure that my home is registered correctly in the name of the previous owner?
The quickest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Wilton conveyancing specialists.
I'm buying my first flat in Wilton with a mortgage from Yorkshire Building Society. The sellers refused to reduce the price so I negotiated £7000 of extras instead. The sale representative suggested that I not to tell my lawyer about this side-deal as it may adversely affect my loan with the lender. 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'm remortgaging my existing home to a BTL loan with Leeds Building Society and I will use the ballance of the raised equity as a deposit on further property. The area we are looking at is Wilton. Will your solicitors be able to act for the two banks and link together the two deals?
Do use our comparison tool on this site to check that the lawyers are approved by both banks. On the basis that they are your conveyancer will be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and communicate your desired outcome and requirements.
What are your top tips when it comes to finding a Wilton conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Wilton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Wilton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:
-
Can they put you in touch with clients in Wilton who can give a testimonial? How experienced is the firm with lease extension legislation?
I am the registered owner of a 2 bed flat in Wilton, conveyancing having been completed 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Wilton with an extended lease are worth £201,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2089
With only 64 years left to run we estimate the premium for your lease extension to span between £15,200 and £17,600 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.