I own a freehold residence in Blaenavon but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Blaenavon and has limited impact for conveyancing in Blaenavon 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 establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
My wife and I purchasing a 4 bedroom semi-detached house in Blaenavon. Our aim is to convert the garage to an office at the house.Will the conveyancing process include checks to ascertain if these alterations are permitted?
Your conveyancer will review the registered title as conveyancing in Blaenavon can occasionally identify restrictions in the title deeds which prohibit certain changes or require the permission of a 3rd party. Many works require local authority planning consent and approval under the building regulations. Certain locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
We previously selected solicitors locally in Blaenavon on the TSB solicitor panel. They have just billed me an additional fee for handling the TSB mortgage. Is this a supplemental conveyancing fee set by TSB?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancer may levy a fee for this. This charge is not set by TSB but by your Blaenavon solicitor. Some firms on the TSB panel will charge an ‘acting for lender’ fee and others do not.
Santander have agreed my mortgage in principle, my offer on a property in Blaenavon has been agreed to, now what?
Your property agent will wish to know who your solicitors are (make sure the lawyers are on the bank’s panel). Call up Santander or the broker and finalise any outstanding forms. Santander will sellect a valuer who will get in touch with the selling agent or seller to book a time for the valuation to occur. Once carried out (assuming no problems) it takes approximately ten days to get a mortgage offer. Santander will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Blaenavon.
My wife and I are downsizing from our house in Blaenavon and according to the buyers it appears that there is a risk of it being built on contaminated land. A local lawyer would know this is not the case. It does beg the question why the buyers are using an internet conveyancing firm as opposed to a conveyancing solicitor in Blaenavon. Having lived in Blaenavon for many years we know that this is a non issue. Is it a good idea to contact our local Authority to seek confirmation that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You should check with 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 health insurance to cover that same sickness)
My husband and I are new on the property ladder - had an offer accepted, but the estate agent advised that the owners will only issue a contract if we use their recommended lawyers as they want an ‘expedited deal’. My instinct tells me that we should use a family conveyancer who is accustomed to conveyancing in Blaenavon
It is improbable the vendors are behind this. If they require ‘a quick sale', taking such a hostile approach to a motivated purchaser is counter productive. Bypass the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you are going to instruct your own,trusted Blaenavon conveyancing solicitors - not the ones that will provide their negotiator at the agency a kickback or meet his conveyancing targets pre-set by head office.
Can you provide any top tips for leasehold conveyancing in Blaenavon from the perspective of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Blaenavon can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers. If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Blaenavon state that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord acquiescing to such works. Should you fail to have the paperwork to hand do not communicate with the landlord without contacting your conveyancer in the first instance. A minority of Blaenavon leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 buyers or their lawyers. If there is a history of conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.
I inherited a studio flat in Blaenavon, conveyancing having been completed October 2005. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Blaenavon with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease finishes on 21st October 2091
With 66 years unexpired we estimate the premium for your lease extension to be between £11,400 and £13,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range 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. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
Are there any apps to help search for a Blaenavon conveyancing solicitor on the mortgage company conveyancing panel? I have a car and am prepared to travel up to 10miles to attend the solicitor.
Feel free to make use of the find a conveyancing panel tool on this website. Please choose the lender and your location, in this case Blaenavon and you will see a number of lawyer located nearest Blaenavon. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the bank solicitor panel.