I plan on buying a maisonette in Attleborough. My property lawyer has never been on on the mortgage company approved list. Can I still retain my Attleborough conveyancing solicitor notwithstanding that they are excluded from the mortgage company list of approved lawyers?
Various options include
- Proceed with your chosen Attleborough property lawyer but your bank will need to instruct a solicitor from their conveyancing panel. This will result in additional cost and probable delay.
- Choose a fresh property lawyer to conduct the conveyancing, making sure they are on the bank conveyancing panel.
- Convince your property lawyer to pull out all the stops to join the mortgage company panel of solicitors
I own a freehold property in Attleborough but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Attleborough and has limited impact for conveyancing in Attleborough 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 date back hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh 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 in 2037 will be dispensed with completely.
We are close to exchanging contracts on the sale of our property in Attleborough and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. Any local lawyer would know that there is no such problem. It does beg the question why the buyers used an internet conveyancing firm rather than a conveyancing solicitor in Attleborough. Having lived in Attleborough for many years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to obtain clarification that there is no issue.
It sounds as though you may have a conveyancing lawyer 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 sickness)
How does the Landlord & Tenant Act 1954 affect my business property in Attleborough and how can you help?
The particular law that you refer to gives protection to commercial leaseholders, granting the a statutory right to apply to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and assist with commercial conveyancing in Attleborough
Do you have any advice for leasehold conveyancing in Attleborough from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Attleborough can be avoided where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the buyers’ solicitors. The majority of landlords or managing agents in Attleborough charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Attleborough. If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Obtaining a re-issued share certificate can be a lengthy formality and slows down many a Attleborough conveyancing transaction. Where a reissued share certificate is necessary, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity. If there is a history of conflict with your landlord or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unsettled. Some Attleborough leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
Attleborough Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing
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Best to be warned whether a new roof is being installed or some other significant cost is due shortly to be shared amongst the leasehold owners and will materially increase the the maintenance costs or require a specific payment. The prefered form of lease structure is a share of the freehold. In this situation the lessees benefit from being in charge if their destiny and although a managing agent is frequently employed if the building is larger than a house conversion, the managing agent is directed by the tenants.
Please can you clarify what options are available to me where my Attleborough conveyancing searches reveals negative entries?
Usually, most concerns arising from Attleborough conveyancing search results can be handled before completion or indemnity insurance can be obtained. You need to remember that regardless of the fact that you may be purchasing the premises and might be content to live with the search results, your building society or bank may not, and when all said and done have the final decision.