My financial adviser requires my Totland lawyer’ panel reference for the HSBC conveyancing panel. Can you suggest how I find this out. I have e-mailed my local Totland office but they don't know it.
You are best placed to get this information from your Totland property lawyer . They should have a central record lender panel numbers.
I purchased a freehold premises in Totland but still charged rent, why is this and what is this?
It’s unusual for properties in Totland and has limited impact for conveyancing in Totland 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 lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Due to the input of my in-laws I had a survey completed on a property in Totland before retaining solicitors. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies will not issue a loan on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. Should you wish to telephone us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Totland. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Totland to see if the conveyancing will be more expensive.
Hoping to buy a property located in Totland and I am already nervous. I couldn't find anything specific about Totland. Conveyancing will be needed in due course but do you know about the Totland area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Totland. In the meantime here are some basic statistics that we found
I need to find a conveyancing solicitor for purchase conveyancing in Totland. I've stumble across a site which appears to be the ideal offering If it is possible to get all the legals completed via web that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What are the common deficiencies that you see in leases for Totland properties?
Leasehold conveyancing in Totland is not unique. Most leases are unique and drafting errors can result in certain clauses are wrong. The following missing provisions could result in a defective lease:
Maintenance charge proportions which don’t add up to the correct percentage Clauses dealing with recovering service charges for expenditure on the building or common parts.
You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Skipton Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.
Totland Conveyancing for Leasehold Flats - Examples of Queries before buying
It would be wise to find out if the the lease includes any adverse restrictions in the lease. By way of example it is very common in Totland leases that pets are not allowed in certain buildings in Totland. If you love the propertyin Totland yet your cat is not allowed to move with you then you will be presented with a difficult choice. The majority of Totland leasehold apartments will incur a service charge for the upkeep of the block levied by the landlord. Where you acquire the apartment you will have to meet this amount, normally in instalments accross the year. This may be anything from a couple of hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a ground rent to be met yearly, this is usually not a large figure, say about £50-£100 but you need to enquire as on occasion it could be prohibitively expensive. How much is the ground rent and service charge?