I purchased a freehold premises in Hay On Wye yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Hay On Wye and has limited impact for conveyancing in Hay On Wye 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 many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
When it comes to mortgage companies such as Nationwide, do Hay On Wye conveyancing practitioners have to pay a yearly amount to be on the conveyancing panel?
We are not aware of any bank fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I had a mortgage agreed in principle with Nationwide. Hay On Wye conveyancing lawyers are chosen. What is the average time that one could expect to receive a mortgage offer from Nationwide?
Some lenders take longer than others. Have Nationwide completed the valuation? Have you advised Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I recently had an offer agreed on a house in Hay On Wye. My mortgage broker pressured me to appoint their property lawyer. I paid an advanced payment of £175. Soon after, the solicitor contacted me embarrassingly acknowledging that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Me and my brother purchased a terraced Victorian house in Hay On Wye. Conveyancing lawyer represented me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the exact same property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hay On Wye and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with your conveyancing solicitor who conducted the work.
Due to the encouragement of my in-laws I had a survey completed on a house in Hay On Wye before retaining conveyancers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some banks may refuse to grant a loan on such a property.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Hay On Wye. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hay On Wye to see if the conveyancing costs will increase in light of this.
I am thinking of appointing a conveyancing solicitor in Hay On Wye for my house move. Is it possible to check a firm’s complaints history with the legal regulator?
One may search for presented Solicitor Regulator Association (SRA) determinations arising from inquisitions commenced on or after Jan 2008. Go to Check a solicitor's record. For details about the period before 1 January 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The regulator sometimes recorded telephone calls for training requirements.
I am on look out for some leasehold conveyancing in Hay On Wye. Before diving in I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Hay On Wye - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Hay On Wye Leasehold Conveyancing - Sample of Questions you should consider Prior to buying
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Are any of leasehold owners in dispute over their service charge payments? Is anyone aware of any major works on the horizon that will add a premium to the maintenance charges?