I own a freehold premises in Shildon but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Shildon and has limited impact for conveyancing in Shildon 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.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Please explain the implications if my solicitor is removed from the Principality Conveyancing panel ahead of completing my conveyancing in Shildon?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
How does conveyancing in Shildon differ for new build properties?
Most buyers of new build premises in Shildon approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is constructed. This is because developers in Shildon typically buy the real estate, 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 Shildon or who has acted in the same development.
I am looking for a flat up to £305k and identified one round the corner in Shildon I like with open areas and transport links in the vicinity, however it only has 61 years on the lease. I can't really find anything else in Shildon suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage the shortness of the lease may be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
As co-executor for the estate of my grandfather I am disposing of a property in Neath but live in Shildon. My conveyancer (who is 300 miles awayhas requested that I execute a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing solicitor in Shildon to witness and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are located in Shildon
I'm buying a property in Shildon. I have found my conveyancer's company on the CLC list, but I can't find my conveyancer's name as listed on the regulator's website. Is this a big problem?
Not every individual in the practice must be listed by the regulator. As long there is a manager qualified to 'oversee' the conveyancing, the actual day-to-day activity can be conducted by unqualified staff.