Some advice if I may. My Trowbridge conveyancer is advising me that he has toconduct Trowbridge conveyancing searches becausethe firm are on the Lloydsapproved lawyer panel. These Trowbridge checks cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with a bank your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the CML Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Trowbridge conveyancing searches.
I own a freehold premises in Trowbridge yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Trowbridge and has limited impact for conveyancing in Trowbridge 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 generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I am looking to buy a property and require a conveyancing solicitor in Trowbridge who is on the Britannia approved. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Britannia in certain locations such as Trowbridge. We dont recommend any particular firm.
I purchased a terraced Edwardian house in Trowbridge. Conveyancing solicitor represented me and Lloyds TSB Bank. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the exact same property. Is it worth asking Lloyds TSB Bank to clarify?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Trowbridge and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing practitioner who conducted the purchase.
I'm converting the mortgage on my current house to a buy to let loan with Accord Mortgages Ltd and I will use the rest of the raised equity as a deposit on a second house. The neighborhood we are looking at is Trowbridge. Will your lawyers be able to act for both sets of mortgage companies and link together the two deals?
Do use our search tool on this site to be sure that the lawyers are on the relevant lender panels. On the basis that they are your solicitor should be able to connect the two transactions but you should talk with you lawyer and specify your desired outcome and requirements.
I work for a long established estate agent office in Trowbridge where we have experienced a few flat sales put at risk due to short leases. I have received contradictory information from local Trowbridge conveyancing solicitors. Please can you confirm whether the owner of a flat can start the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a ground floor flat in Trowbridge, conveyancing having been completed in 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Trowbridge with a long lease are worth £202,000. The ground rent is £60 invoiced annually. The lease expires on 21st October 2082
With just 57 years unexpired we estimate the price of your lease extension to span between £28,500 and £33,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.