I am getting a mortgage offer from Nat West. I intend to employ the services of a Licensed Conveyancer in Rottingdean. Does the Nat West Conveyancing panel exclude conveyancers regulated by the CLC?
The Nat West conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
We are purchasing our first property. The property lawyer has e-mailedto enquire if we wish to purchase supplemental conveyancing searches. We are really unsure what's recommended for conveyancing in Rottingdean
The extent of Rottingdean conveyancing searches depends primarily on the property, the location, the possibility of any of these risks, your familiarity of the locality and risks, your overall attitude to risk. What is important is that you properly understand what information the searches could give you. Then you can make a decision if you consider that you need that search. Where you are in doubt, ask your lawyer to explain.
I am the registered owner of a freehold house in Rottingdean but still invoiced for rent, why is this and what is this?
It is rare for properties in Rottingdean and has limited impact for conveyancing in Rottingdean 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 generation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
My wife and I own a 4 bedroom Victorian house in Rottingdean. Conveyancing lawyer represented me and TSB. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Rottingdean and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing practitioner who conducted the work.
I work for a reputable estate agency in Rottingdean where we have witnessed a few flat sales put at risk as a result of short leases. I have received contradictory information from local Rottingdean conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can start 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.
I inherited a leasehold flat in Rottingdean, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Rottingdean with a long lease are worth £260,000. The ground rent is £45 charged once a year. The lease terminates on 21st October 2095
You have 74 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
I am Googling for Rottingdean conveyancing quotes online. Can I be confident that all the Rottingdean law firms that are listed on your website are on the bank conveyancing panel?
The law firms listed on our site have advised us that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the bank panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific Rottingdean firm being on the bank conveyancing panel is incorrect.