I own a freehold residence in Penarth but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Penarth and has limited impact for conveyancing in Penarth 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 date back many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
I am helping my mother sell her house in Penarth. Does the conveyancer arrange the energy assessment or it is for the seller to see to?
Following the demise of HIPs, energy performance certificates became a compulsory part of selling a property. An energy assessment must be to hand prior to the property being marketed. It is not something that lawyers normally organise. If you are instructing a Penarth conveyancing solicitor they may help arrange EPC’s given their relationships with long established local energy assessors
We previously instructed solicitors locally in Penarth on the Santander solicitor panel. They have just billed me a further amount for handling the Santander mortgage. Is this an additional conveyancing fee specified by Santander?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your property lawyer can charge a fee for this. The charge is not set by Santander but by your Penarth conveyancer. Numerous firms on the Santander panel will levy ’dealing with mortgage’ fee but some firms include it on their overall fee.
Lloyds have agreed my mortgage in principle, my offer on a house in Penarth has been accepted, what happens next?
The estate agent will need to be informed of your conveyancing practitioner's details (be sure the property lawyers are on the bank’s panel). Call up Lloyds or your broker and finish off any appropriate paperwork. Lloyds will sellect a valuer who will get in contact with the selling agent or vendor to book a slot for the valuation to occur. Once carried out (assuming no problems) it takes about ten days for the mortgage offer to be issued. Lloyds will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Penarth.
three months have gone by since my purchase conveyancing in Penarth completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I was recommended by a number of property agents in Penarth to get a quote from a solicitor on your site. What’s the financial inducement for Estate Agents to offer your services ahead of alternative conveyancing organisations?
We don’t offer any commission for sending work to this site. We found it would be just too difficult to pay a commission because home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
I am 3 weeks into a leasehold purchase having been recommend to solicitors by the estate agent to carry out the conveyancing in Penarth. I am am starting to be disappointed with the level of service. Could you you assist me in finding new solicitors?
A conveyancer would have to be very poor to suggest changing them. Has the mortgage offer been sent? In the event that it has you will need to make them aware of the new contact details and have the loan are re-issued. Your conveyancer needs to be on the banks approved list to avoid added costs and delays. So that should be your starting point. Our find a solicitor tool should assist you in finding a lender approved lawyer for your conveyancing in Penarth
What are the common defects that you witness in leases for Penarth properties?
There is nothing unique about leasehold conveyancing in Penarth. Most leases are unique and legal mistakes in the legal wording can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Leeds Building Society, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.
Penarth Leasehold Conveyancing - Examples of Queries Prior to buying
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This information is useful as a) areas could result in problems in the building as the common areas may begin to deteriorate where maintenance are not paid for b) if the leaseholders have a dispute with the managing agents you will wish to have complete disclosure Who are the managing agents?