Am I correct in assuming that the fact that my conveyancer in Totton is not identified on my lender's conveyancing panel that there is a problem with the quality of her work?
That is most likely an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Totton conveyancing practice and ask them why they are no longer on the approved list for your lender.
Me and my partner are about to exchange buying a house in Totton but as a consequence of wreckage from a small fire at the property I have was able negotiate compensation from the seller of three thousand pounds taking the form of a deduction in the price. This was going to be addressed as part of amending the contract however Nationwide will not agree to this. Should they have been notified?
Your lawyer being on the Nationwide approved list is duty bound to inform Nationwide of any variations to the sale price. If you prohibit your conveyancer to disclose the reduction to Nationwide then they would have to discontinue acting for you. In addition, Nationwide and you would have to appoint a new conveyancing practitioner for your conveyancing in Totton.
I am the registered owner of a freehold property in Totton but nevertheless pay rent, why is this and what is this?
It is rare for properties in Totton and has limited impact for conveyancing in Totton 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 generation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I am buying a new build apartment in Totton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Totton
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Please confirm the Lease plans are surveyor prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I have been recommended by a number of selling agents in Totton to get a quote from a conveyancer using your seach tool. What’s the financial advantage for Estate Agents to market your services ahead of a competitor’s?
We refuse to offer any financial incentive for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I would like to sublet my leasehold flat in Totton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Your lease dictates relations between the freeholder and you the flat owner; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Totton do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
Leasehold Conveyancing in Totton - Examples of Questions you should ask before buying
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How many years are left on the lease? It is important to be aware whether a new roof is being put on or some other major work is pending to be shared by the leaseholders and could well dramatically increase the the maintenance fees or require a specific payment.