I am acquiring a property for cash in Frognal. I have resided for the previous 15 years in Frognal. Conveyancing searches are a lot of money. As I have knowledge of the area and road very well must I have all the conveyancing searches?
Provided that you do not need a home loan, then almost all of the Frognal conveyancing searches are optional. Your lawyer will ’encourage you, perhaps strongly, that you should have searches completed, but she is duty bound to do this. Do take into account; if you are intend to sell the house at a future date, it may be of relevance to your future purchaser what the searches reveal. On occasion premises with no practical issues can still show up adverse search results. A good conveyancing solicitor in Frognal will provide you some helpful advice in this regard.
I am the registered owner of a freehold property in Frognal but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Frognal and has limited impact for conveyancing in Frognal 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 fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
I have todaybeen informed that Action Conveyancing have closed. They carried out my conveyancing in Frognal for a purchase of a leasehold flat 9 months ago. How can I check that the property is registered correctly in the name of the previous owner?
The quickest way to check if the premises is registered to you, 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 Frognal conveyancing specialists.
I am looking for a flat up to £195,000 and identified one near me in Frognal I like with amenity areas and station nearby, however it only has 61 years unexpired on the lease. I can't really find anything else in Frognal for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the shortness of the lease may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
I am using a search engine for the words cheap conveyancing in Frognal it brings up numerous conveyancerslocally. How do I determine which is the right conveyancing solicitor for purchase transaction?
The best way of seeking the right conveyancer is via personal referral, so enquire of friends and relatives who have bought a property in Frognal or a reputable estate agent or financial adviser. Charges for conveyancing in Frognal vary, so it's sensible to secure a minimum of three estimates from different conveyancers. Make sure that you clarify that the charges are assured not to to be inflated.
My conveyancing solicitor in Frognal has requested from me identification documents saying that this forms part of his legal duty as a solicitor on the bank Solicitor panel. Can this be correct?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the mortgage company. This is not specific to conveyancing in Frognal