I am the registered owner of a freehold property in Rhosneigr but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Rhosneigr and has limited impact for conveyancing in Rhosneigr 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 many centuries, but the Rent Charge Act 1977 barred the establishment 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 will be dispensed with completely.
My uncle passed away 10 months ago and as sole heir and executor I was left the house in Rhosneigr. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this possible?
Where you intend to refinance then Lloyds will insist on your using a conveyancer on the Lloyds conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Lloyds conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Lloyds mortgage is registered as a charge at the Land Registry.
Despite weeks of looking the Title Certificate and documents to our home can not be found. The solicitors who conducted the conveyancing in Rhosneigr 10 years ago no longer exist. Will I be able to sell the house?
You no longer need to have the physical original deeds to prove you own the land or premises, as the Land Registry hold details of all registered land or property electronically.
What does commercial conveyancing in Rhosneigr cover?
Rhosneigr conveyancing for business premises covers a broad array of guidance, supplied by regulated solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
Jane (my partner) and I may need to let out our Rhosneigr basement flat for a while due to a new job. We instructed a Rhosneigr conveyancing practice in 2004 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your previous Rhosneigr conveyancing lawyer is no longer available you can check your lease to see if it allows you to sublet the apartment. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you must seek consent via your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet without prior permission. Such consent is not allowed to be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
I bought a basement flat in Rhosneigr, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Comparable properties in Rhosneigr with a long lease are worth £191,000. The ground rent is £55 yearly. The lease finishes on 21st October 2078
With only 53 years remaining on your lease the likely cost is going to be between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
My work colleague mentioned that when choosing a conveyancing lawyer they must be approved by your mortgage company. It happens to be my first home move but I have an AIP via Nat West Bank and I already have a local conveyancing lawyer in Rhosneigr lined up. Does Nat West Bank require an approved conveyancer to be used? Does a list of approved firms even exist for my conveyancing in Rhosneigr?
You should choose a solicitor that is on the Nat West Bank panel. The first thing to do is telephone your chosen Rhosneigr conveyancing solicitor to check if they are on the Nat West Bank panel. If they are not on the panel you have a couple of options available to you here:
- Complete the purchase with your existing Rhosneigr conveyancing practitioner but Nat West Bank will need to retain a conveyancer on their conveyancing panel. This will result in additional charges together with potential interruption.
- Appoint a new conveyancing practitioner to conduct the conveyancing, not forgetting to check that they are on the Nat West Bank conveyancing panel.
- Convince your conveyancing practitioner to seek to join the lender panel.