I am the registered owner of a freehold property in Llanfairpwllgwyngyll yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Llanfairpwllgwyngyll and has limited impact for conveyancing in Llanfairpwllgwyngyll 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 new rentcharges from 1977 onwards.
Previous 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 extinguished.
The Llanfairpwllgwyngyll conveyancing lawyers that just started acting on my purchase in Llanfairpwllgwyngyll have suddenly closed. I chose them because I needed a lawyer on the Lloyds conveyancing panel and my family Llanfairpwllgwyngyll lawyer was not. I paid them £170 on account. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Lloyds conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
We are close to exchanging contracts on the sale of our house in Llanfairpwllgwyngyll and according to the buyers it appears that there is a risk of it being constructed on contaminated land. A high street Llanfairpwllgwyngyll conveyancer would know that there is no such problem. It does beg the question why the buyers used a web based conveyancing firm rather than a conveyancing solicitor in Llanfairpwllgwyngyll. Having lived in Llanfairpwllgwyngyll for many years we know of no issue. Should we contact our local Authority to seek clarification need.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You should enquire of 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 health insurance to cover that same ailment)
How does conveyancing in Llanfairpwllgwyngyll differ for new build properties?
Most buyers of new build premises in Llanfairpwllgwyngyll approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Llanfairpwllgwyngyll usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Llanfairpwllgwyngyll or who has acted in the same development.
Am I better off to go with a Llanfairpwllgwyngyll conveyancing lawyer who is local to the property I am purchasing? I have an old university friend who can execute the legal formalities however his firm is located 400kilometers drive away.
The primary upside of using a high street Llanfairpwllgwyngyll conveyancing firm is that you can visit the firm to sign documents, hand in your identification documents and apply pressure on them if necessary. Having local Llanfairpwllgwyngyll know how is a benefit. However it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and in the main were impressed that must trump using an unfamiliar Llanfairpwllgwyngyll conveyancing solicitor solely due to them being based in the area.
Frank (my husband) and I may need to rent out our Llanfairpwllgwyngyll garden flat for a while due to a career opportunity. We instructed a Llanfairpwllgwyngyll conveyancing practice in 2004 but they have since shut and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your last Llanfairpwllgwyngyll conveyancing solicitor is no longer available you can check your lease to check if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to obtain consent from your landlord or other appropriate person prior to subletting. This means you not allowed to sublet without first obtaining permission. Such consent is not allowed to be unreasonably turned down. If the lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
I am the registered owner of a ground floor flat in Llanfairpwllgwyngyll, conveyancing formalities finalised November 2012. 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 flats in Llanfairpwllgwyngyll with a long lease are worth £185,000. The ground rent is £65 per annum. The lease terminates on 21st October 2085
With only 60 years left to run the likely cost is going to be between £20,000 and £23,000 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.