I purchased a freehold residence in Totterdown but still charged rent, why is this and what is this?
It’s unusual for properties in Totterdown and has limited impact for conveyancing in Totterdown 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I am considering applying for a Kent Reliance mortgage for purchase of a newly converted (under development) in Totterdown with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Kent Reliance ?
There is nothing to stop you using your solicitor, but Kent Reliance will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
We are purchasing a end of terrace house in Totterdown. The intention is to carry out an extension to the side at the property.Will legal investigations on the property involve investigations to ascertain if these works are prohibited?
Your solicitor should review the registered title as conveyancing in Totterdown will on occasion reveal restrictions in the title deeds which prohibit certain alterations or necessitated the permission of another owner. Many works require local authority planning consent and approval under the building regulations. Certain locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
My wife and I have arranged the release of further funds on our home loan from Principality as we wish to conduct improvements to our home in Totterdown. Are we obliged to select a nearby Totterdown solicitor on the Principality conveyancing panel to handle the paperwork?
Principality do not ordinarily require a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality list.
The formalities of my purchase has taken place for my property in Totterdown. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
How does conveyancing in Totterdown differ for new build properties?
Most buyers of new build residence in Totterdown come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is finished. This is because builders in Totterdown typically 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 property lawyers 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 Totterdown or who has acted in the same development.
My brother has encouraged me to use his lawyers for conveyancing in Totterdown. Should I use them?
No doubt it’s preferable to find a conveyancing solicitor is to get referrals from friends or relatives who have actually experience in using the solicitor that you are are thinking of instructing.
As a tenant I am liable for a service charge for my ground floor flat in Totterdown. As a result of personal circumstances I slipped behind with remittance. The management company agreed a settlement schedule but there is still approximately £1750 currently due.
I now wish to dispose of the property and I am nervous that this could threaten to derail the sale if I have to discharge the amount due in advance. Do I have to settle before - is this achievable?
Do clarify with the conveyancing practitioner handling your Totterdown conveyancing but one option could be to arrange for the outstanding amount to be attributed to the buyers. The purchase price they pay would be adjusted to reflect the amount of debt they assume. They could then deal with the outstanding monies once they are the owners.