IfI were to purchase a freehold housein Rayners Lane mortgage fee and have no survey and no local authority searches how much should I expect to to save on my conveyancing in Rayners Lane?
The only saving you would make on is the Rayners Lane conveyancing searches. Your conveyancing practitioner is required to do the vast majority of work - money laundering, communicating with your sellers property lawyer, SDLT submission, register the title etc. A slight saving might be made by not needing to register a charge but it won't be meaningful.
I purchased a freehold premises in Rayners Lane yet pay rent, why is this and what is this?
It is rare for properties in Rayners Lane and has limited impact for conveyancing in Rayners Lane 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 creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
I used Arc property Solicitors several years ago for my conveyancing in Rayners Lane. I now require my papers however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Rayners Lane of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying a new build house in Rayners Lane benefiting from help to buy. The developers would not reduce the price so I negotiated £7000 of additionals instead. The estate agent advised me not inform my solicitor about the extras as it will adversely affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I only have 72 years remaining on my flat in Rayners Lane. I need to extend my lease but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to demonstrate that you have done all that could be expected to track down the landlord. On the whole a specialist would be helpful to carry out a search and prepare an expert document to be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the application to the County Court overseeing Rayners Lane.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Rayners Lane conveyancing firm to help?
You certainly can. We can put you in touch with a Rayners Lane conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Rayners Lane property is GFF 1 Holyrood Avenue in May 2014. The Tenant wished to acquire a new (extended) lease and applied to the Willesden County Court who granted a vesting order on 20* March2013. The Tribunal decied that the premium to be paid was £9,062 This case affected 1 flat. The number of years remaining on the existing lease(s) was 79 years.
My son is just in the process of moving house, the home loan was agreed last week in principle. After the offer was accepted on house we contacted the lender to issue the formal offer. We were very surprised to learn that banks do not accept all conveyancer, they must be on their panel, is this correct?
Lenders normally restrict either the type or the number of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Rayners Lane conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.