I purchased a freehold property in Lampeter but still charged rent, why is this and what is this?
It’s unusual for properties in Lampeter and has limited impact for conveyancing in Lampeter 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 from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
I am considering applying for a TSB mortgage for purchase of a newly converted (under development) in Lampeter with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for TSB ?
In theory, you could use a solicitor that is not on the TSB conveyancing panel, but TSB would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Are all Lampeter Conveyancing Quality Solicitors on the RBS conveyancing list of approved practices?
It is true that some banks and building societies now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
I have decided to exercise my right to buy my property in Lampeter off the council. I have a mortgage agreed with Kent Reliance. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Kent Reliance, you will need to appoint a solicitor on the Kent Reliance conveyancing panel.
The formalities of my purchase has taken place for my property in Lampeter. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I am selling our home in Lampeter and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers used a web based conveyancing outfit rather than a conveyancing solicitor in Lampeter. Having lived in Lampeter for three years we know of no issue. Do we get in touch with our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing solicitor already. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
My company is intending to lease a unit on the high street. Can you recommend lawyers offering competitive charges for non-domestic conveyancing in Lampeter for less than 1500k?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Lampeter, including the sale and purchase of businesses as well as simply property. If you are hoping to purchase or dispose of a shop, pub, restaurant, office, retail premises or a whole business we can put you in touch with the right firm. As for the costs these will vary based on the structure and heads of terms of the proposed transaction. Please provide us with your contact information or phone so as to enable us to supply you with a fixed commercial conveyancing quote.
I am hoping to sign contracts shortly on a studio apartment in Lampeter. Conveyancing lawyers assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Lampeter should include some of the following:
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What remedies are open the freeholder should you are in breach of your lease terms? Your conveyancers should enable you to have an understanding of the building insurance requirements Will you be prohibited or prevented from having pets in the property? if lease caters for for a sinking fund? Does the lease require carpeting throughout thus preventing wood flooring?
I inherited a leasehold flat in Lampeter, conveyancing formalities finalised August 2005. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Lampeter with a long lease are worth £260,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease terminates on 21st October 2100
With 75 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.