Please help. My Newbury solicitor is assuring me that she is duty bound toorder Newbury conveyancing searches becausethe firm are on the HSBCsolicitor panel. Is my lawyer right?
You have limited options available to you. Given that you are taking out a loan with a bank your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the CML Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Newbury conveyancing searches.
I own a freehold property in Newbury but still invoiced for rent, why is this and what is this?
It is rare for properties in Newbury and has limited impact for conveyancing in Newbury 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 post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
When it comes to mortgage companies such as RBS, do Newbury conveyancing practitioners incur a fee to be on the conveyancing panel?
We are not aware of any bank fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
We are getting the release of further monies on our mortgage from Santander as we intend to conduct a loft conversion to our house in Newbury. Are we obliged to appoint a bricks and mortar Newbury solicitor on the Santander conveyancing panel to handle the legals?
Santander would not normally appoint a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Santander conveyancing panel.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Newbury solicitor on the Yorkshire BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
I require expedited conveyancing in Newbury as I have a deadline to complete in less than 2 weeks. A mortgage is not required. Is it possible to decline from having conveyancing searches to save money and time?
As you are are a cash buyer you are at free not to have searches carried out although no conveyancer would recommend that you don't. With lots of history conveyancing in Newbury the following are examples of what can show up and therefore affect market value: Refused Planning Applications, Overdue Charges, Overdue Grants, Unadopted Roads,...
I need to find a conveyancing solicitor for residential conveyancing in Newbury. I happened to chance upon a web site which seems to have the ideal answer If there is a chance to get all this stuff done via phone that would be preferable. Should I be wary? What should out be looking out for?
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?
Having had my offer accepted I require leasehold conveyancing in Newbury. Before diving in I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Newbury - then the leasehold title will always include the basic details 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.
I bought a split level flat in Newbury, conveyancing having been completed September 2010. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Newbury with an extended lease are worth £186,000. The ground rent is £55 per annum. The lease ends on 21st October 2076
With 53 years unexpired we estimate the premium for your lease extension to span between £27,600 and £31,800 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.