I purchased a freehold residence in Llanelli yet invoiced for rent, why is this and what is this?
It is rare for properties in Llanelli and has limited impact for conveyancing in Llanelli 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 fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
Our mortgage company has suggested solicitors on their panel based in Llanelli but I would rather choose a conveyancing lawyer in Llanelli local to me. Are you able to help?
Far from all Llanelli conveyancing practitioners are on all banks conveyancing panel. Do make use of the above find an approved solicitor tool to locate a Llanelli conveyancing firm on the on the lender panel.
I'm buying my first flat in Llanelli with a loan from Coventry Building Society. The builders would not move on the price so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not to tell my solicitor about this deal as it may affect my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a quick, no chain conveyancing. Llanelli is where the house is located. Can you offer any assistance?
Flying freeholds in Llanelli are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Llanelli you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Llanelli may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Taking into account that I will soon spend 450k on a two bedroom apartment in Llanelli I would like to have a conversation with the lawyer regarding thehome move before instructing the firm. Can this be arranged?
Absolutely - we would be delighted to talk to you we do not take any clients on without you speaking to the solicitor who will be doing your property ownership legalities in Llanelli.There is no ‘factory style conveyancing’ - every client is unique individual, not a case reference. The practices that we put you in touch with believe that the fees you are provided with for your conveyancing in Llanelli should be the amount on the final invoice that you end up paying.
I need to appoint a conveyancing solicitor for freehold conveyancing in Llanelli. I've discover a site which looks to be the ideal offering If it is possible to get all the legals completed via web that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?