I am the registered owner of a freehold property in Halkyn yet pay rent, why is this and what is this?
It’s unusual for properties in Halkyn and has limited impact for conveyancing in Halkyn 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 many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
Please explain the implications if my solicitor is suspended from the Aldermore Solicitor panel ahead of completing my conveyancing in Halkyn?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I'm purchasing my first flat in Halkyn with the aid of help to buy. The builders would not move on the price so I negotiated 6k of additionals instead. The house builders rep told me not reveal to my solicitor about the side-deal as it will jeopardize my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I'm refinancing my existing home to a BTL loan with Virgin Money and intend to use the remaining equity as a deposit on further property. The area we are looking at is Halkyn. Will your solicitors be able to act for both sets of lenders and tie in the transactions?
Do use our search tool on this page to be sure that the solicitors are on the relevant lender panels. Assuming that they are your lawyer will be able to connect the two conveyancing matters but you should have a chat with you solicitor and make clear your desired outcome and requirements.
Expecting to complete next month on a basement flat in Halkyn. Conveyancing solicitors have said that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Halkyn should include some of the following:
You should know whether the lease allows you to change or improve anything in the premises- you should know whether any restrictions applies to all alterations or just structural alteration, and whether consent is mandated necessary Who has the liability for repairing the window frames What remedies are open the freeholder should you breach a clause of your lease? Your lawyers should enable you to have an understanding of the insurance provisions Who has the liability to repair and maintain the building. It is important for you to know which party is duty bound to repair and maintenance of every part of the building
I am the registered owner of a 1st floor flat in Halkyn, conveyancing was carried out January 2000. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Halkyn with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 levied per year. The lease terminates on 21st October 2072
You have 52 years remaining on your lease the likely cost is going to be between £29,500 and £34,000 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.
What can I do where I am dissatisfied with the property lawyer who conducted our conveyancing in Halkyn?
Occasionally the level of service you receive is not as you expect, and is is a fact of life that occasionally matters do not go as planned. Nevertheless there is recourse if you were not happy with your conveyancing in Halkyn. This varies from trying to resolve matters directly with them, through to reporting a conveyancing practitioner to their regulator. If things still aren’t resolved you may consider enlisting the help of the Legal Ombudsman.