Me and my partner are about to complete buying a house in North Cornelly but as a result of damage from a small fire at the property I have managed to agree reparation from the current proprietors of three thousand pounds by way of a adjustment in the price. This was going to be dealt with as part of a side agreement however Bank of Ireland will not permit this. Why were they approached?
The solicitor that is on a Bank of Ireland approved list is required to disclose to Bank of Ireland of any variations to the sale price. If you prohibit your solicitor to notify the reduction to Bank of Ireland then they would have to discontinue acting for you. In addition, Bank of Ireland and you would have to appoint a new lawyer for your conveyancing in North Cornelly.
I am the registered owner of a freehold property in North Cornelly yet pay rent, why is this and what is this?
It is rare for properties in North Cornelly and has limited impact for conveyancing in North Cornelly 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 establishment of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
My brother-in-law has suggested I instruct a conveyancing solicitor in North Cornelly. I need to find out whether they are accepted on the National Westminster Bank conveyancing panel. Can you or the lender confirm if they are on the panel?
The first thing you should do is e-mail the lawyer and enquire if they can act for the lender. Otherwise please get in touch with National Westminster Bank who may be able to confirm.
Various web forums that I have come across warn that are the number one reason for delay in North Cornelly conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in North Cornelly.
I am looking for a ground for flat up to £195,000 and identified one close by in North Cornelly I like with amenity areas and station nearby, however it only has 49 years on the lease. I can't really find anything else in North Cornelly in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the shortness of the lease may be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
In what way can the Landlord & Tenant Act 1954 impact my business offices in North Cornelly and how can you help?
The particular law that you refer to provides security of tenure to business leaseholders, giving them the legal entitlement to make a request to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. North Cornelly is one of the hundreds of locations in which the firms we work with are based