I am the registered owner of a freehold property in Trearddur Bay but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Trearddur Bay and has limited impact for conveyancing in Trearddur Bay 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 date back many centuries, but the Rent Charge Act 1977 barred the establishment of fresh 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 after 2037 is to be extinguished.
Do the Building Society Association intend to launch a searchable register to to identify firms on the Loughborough BS conveyancing panel for example in Trearddur Bay?
We are not aware of any intention on the part of the BSA to develop such a tool.
We are getting the release of further funds on our mortgage from Yorkshire BS as we wish to carry out renovations to our house in Trearddur Bay. Are we obliged to appoint a high street Trearddur Bay solicitor on the Yorkshire BS conveyancing panel to handle the legals?
Yorkshire BS do not ordinarily instruct firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS conveyancing panel.
My wife and I are in the process of looking at houses in Trearddur Bay and I am now considering a potential offer. Is it advisable to have my conveyancer on ‘stand by’? I will be getting a home loan with UBS.
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. Given that you are getting a mortgage with UBS, ask your prospective lawyers if they are on the UBS conveyancing panel otherwise they can't do the mortgage legal work.
I have today made my last payment due on my mortgage with TSB. I assume I don't need a Trearddur Bay solicitor on the TSB panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to have this when purchasing a house in Trearddur Bay? or I am told that there is historic law that could mean that house owners residing in a parish church boundary may be liable to contribute towards repairs towards the chancel in proximity to the church. Is this applicable for conveyancing in Trearddur Bay?
Unless a prior purchase of the house completed after 12 October 2013 you could expect solicitors handling conveyancing in Trearddur Bay to remain encouraging a chancel search and or chancel repair liability insurance.
I got the keys to my home on 9 January and the transaction details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Trearddur Bay expressed confidence that it should be recorded inside ten days. Are titles in Trearddur Bay particularly slow to register?
As far as conveyancing in Trearddur Bay is concerned, registration is no quicker or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can vary according to who lodges the application, whether there are errors and if the Land registry communicate with any interested parties. At present approximately 80% of such applications are fully dealt with in less than three weeks but occasionally there can be extensive hold-ups. Registration is effected once the purchaser has moved in to the property so 'speed' is not usually primary concern but where it is urgent that the the registration takes place urgently then you or your solicitor can communicate with the Registry to express the reasoning for the application to be prioritised.
Back In 2002, I bought a leasehold flat in Trearddur Bay. Conveyancing and Coventry Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Trearddur Bay who acted for me is not around. Do I pay?
First make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Trearddur Bay conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a 1st floor flat in Trearddur Bay, conveyancing was carried out in 2011. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Trearddur Bay with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2106
With just 80 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.