My husband and I are planning to purchase a home in Hartburn and have appointed a Hartburn conveyancing firm. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Bank of Scotland have this evening contacted us to advise us that they have now hit a problem as our Hartburn lawyer is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Hartburn lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Would the conveyancing lawyers indexed on your site conduct right to buy conveyancing in Hartburn?
We work with plenty of conveyancing specialists carrying out right to buy conveyancing Please contact us in order to get a costs calculation.
I am the registered owner of a freehold property in Hartburn yet charged rent, why is this and what is this?
It’s unusual for properties in Hartburn and has limited impact for conveyancing in Hartburn 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.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
The deeds to our home are lost. The lawyers who conducted the conveyancing in Hartburn 10 years ago have long since closed. What do I do?
Gone are the days when you need to hold title deeds to prove you own the land or property, as the Land Registry hold details of all registered land or property electronically.
I have been on the look out for a flat up to £195,000 and identified one round the corner in Hartburn I like with amenity areas and station nearby, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Hartburn suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer 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 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I've recently bought a leasehold flat in Hartburn. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a garden flat in Hartburn, conveyancing was carried out October 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Hartburn with over 90 years remaining are worth £180,000. The ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2083
With 58 years remaining on your lease the likely cost is going to range between £21,900 and £25,200 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.