My partner and I are acquiring our first house. The conveyancer has messagedto ask if we would like to order additional conveyancing searches. We are really unsure what's relevant for conveyancing in Bangor
The type of Bangor conveyancing searches should be triggered based entirely on the premises, the location, the likelihood of any of these risks, your knowledge of the locality and risks, your general attitude to risk. What matters is that you adequately appreciate what information the searches could supply. Then you can make a decision if you consider that you need that information. If in doubt, ask your conveyancer to explain.
I purchased a freehold residence in Bangor but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Bangor and has limited impact for conveyancing in Bangor 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 generation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
A colleague advised me that in purchasing a property in Bangor there may be various restrictions preventing external alterations to the property. Is this right?
There are a number of properties in Bangor which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Bangor should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to lenders such as Bank of Ireland, do Bangor property lawyers incur a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
How can we tell if a Bangor conveyancing solicitor on the RBS panel is any good?
When it comes to conveyancing in Bangor obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the lawyer carrying out your transaction.
How does conveyancing in Bangor differ for new build properties?
Most buyers of new build or newly converted property in Bangor approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Bangor typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Bangor or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Bangor prior to instructing solicitors. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some banks tend refuse to issue a loan on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different requirements from Halifax. If you contact us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bangor. Conveyancing will be smoother if you use a solicitor in Bangor especially if they are acquainted with such properties in Bangor.
In what way does the Landlord & Tenant Act 1954 impact my commercial premises in Bangor and how can you help?
The particular law that you refer to affords security of tenure to commercial lessees, granting the right to apply to court for a continuation of occupancy when the lease reaches an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Bangor is one of our many areas of the UK in which the firms we work with are located