I own a freehold residence in Deeside but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Deeside and has limited impact for conveyancing in Deeside 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 from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
About to place an offer on a leasehold flat in Deeside. The estate agents say that it is the norm for flats in Deeside to have less than 75 years remaining. I am getting a loan with Tesco Bank. Is this going to be acceptable if the lease has Seventy One years unexpired.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 14/7/2024 the requirements read as follows :
I'm the sole beneficiary of my late mum's estate with all property in now in my sole name, including the house in Deeside. Conveyancing formalities meant that the Land Registry date was in June. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', which means that my property ownership may be regarded the same way as if I'd bought the house in June. Will no one buy the property for half a year?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. many lenders would take a sensible view as this requirement primarily exists to capture subsales or the wholesaling and assigning of property.
Can I be sure that the Deeside conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in Deeside obtaining recommendations is a sensible start. 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 advise that you speak with the solicitor handling your transaction.
I was told two weeks ago that my mortgage has been agreed to by Clydesdale. Is it usual for Clydesdale to only issue the offer once my solicitor in Deeside is approved on their conveyancing panel? Clydesdale have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Clydesdale to deal with your lawyer's application to be on the Clydesdale conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Deeside differ for newly converted properties?
Most buyers of new build or newly converted property in Deeside contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is completed. This is because developers in Deeside usually acquire 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 conveyancers 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 used to new build conveyancing in Deeside or who has acted in the same development.
How do I locate a Deeside solicitor on the Bank of Ireland conveyancing panel? I drive a motor bike and am willing to travel upto 25kilometers to meet the conveyancer.
Feel free to make use of the search on this page. Please select a bank and your location and you will see a number of Deeside conveyancing lawyers located nearest you. We have listed some Deeside conveyancing firms towards the end of this page and you can contact them to check if they are on the Bank of Ireland panel
I need to retain a conveyancing solicitor for sale conveyancing in Deeside. I have stumble across a site which seems to have the ideal solution If it is possible to get all the legals completed via web that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?