Please could you vouch for a TSB approved Romney conveyancing solicitor that can complete within a short deadline? Would it be better to use a high street Romney conveyancer or a factory type conveyancer?
We would be happy to suggest some excellent Romney conveyancing firms. Another option is to visit the main road in Romney. Visit some well established firms and ask to speak with a conveyancing solicitor for a costs illustration. Explain your expectations together with the reasons and get an assurance on speed. Choose the lawyer that you trust.
I purchased a freehold property in Romney but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Romney and has limited impact for conveyancing in Romney 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 post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
How does conveyancing in Romney differ for new build properties?
Most buyers of new build or newly converted property in Romney contact us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Romney usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Romney or who has acted in the same development.
I have been on the look out for a flat up to £235,500 and identified one close by in Romney I like with a park and railway links nearby, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Romney for this price, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan that many years will likely be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
Back In 2003, I bought a leasehold flat in Romney. Conveyancing and Nationwide Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Romney who previously acted has long since retired. What should I do?
The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Romney conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Romney - A selection of Questions you should consider before Purchasing
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The answer will be helpful as a) areas could result in problems in the block as the common areas may begin to deteriorate where repairs are not paid for b) if the tenants have an issue with the running of the building you will want to have full disclosure What is the yearly maintenance fee and ground rent? It would be wise to discover as much as possible regarding the company managing the block as they will either make your life much easier or problematic. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day matters such as the cleanliness of the common parts. Ask prospective neighbours if they are happy with them. In conclusion, find out the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money.
How up-to-date is your search tool for the mortgage company conveyancing panel in Romney? Do the banks send you an updated list?
Romney firms and firms carrying out conveyancing in Romney themselves provide us confirmation that they are on the lender conveyancing panel as opposed to being supplied with a list from the lender directly.