I am getting a mortgage with Santander. My intention is to instruct a Licensed Conveyancer in Oswestry. Does the Santander Conveyancing panel allow for Licensed Conveyancers?
The Santander approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I require conveyancing for a flat in a relatively new development (6 years old) in Oswestry. The vast majority the properties are already disposed of. Is it really necessary to order local searches as part of conveyancing in Oswestry?
Conveyancing Searches are a central link in the Oswestry conveyancing process. There are a large number of search providers who offer Oswestry conveyancing searches, as well straight from the local authority. These are usually referred to as personal search organisation and they produce, not surprisingly, personal searches. Nevertheless, all Local Authority Search conveyancing products have one thing in common - they must secure their information from the local authority.
I own a freehold property in Oswestry but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Oswestry and has limited impact for conveyancing in Oswestry 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 post 2037 will be extinguished.
I have been told that property searches are the main reason for obstruction in Oswestry conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays during the legal transfer of property. Local searches are unlikely to feature in any slowing down conveyancing in Oswestry.
I have justbeen informed that Arc property Solicitors have been shut down. They conducted my conveyancing in Oswestry for a purchase of a leasehold flat 18 months ago. How can I check that the property is not still registered in the name of the previous owner?
The quickest way to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Oswestry conveyancing specialists.
I am employed by a long established estate agent office in Oswestry where we have witnessed a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Oswestry conveyancing firms. Can you confirm whether the vendor of a flat can instigate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I own a split level flat in Oswestry, conveyancing was carried out in 2010. 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 Oswestry with a long lease are worth £190,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease terminates on 21st October 2087
With just 62 years left to run we estimate the price of your lease extension to span between £17,100 and £19,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.