After what seems like an age a mortgage agreement from Nationwide for the refinancing of my 3 bedroom apartment is coming imminently. Are you able to suggest a cheap conveyancing solicitor in Yate?
This site is not designed to assist those in their quest for the cheapest conveyancing in Yate. We can offer you value for money conveyancing but our intention is not to advertise as being the cheapest. Avoid the trap of appointing brokers offering ninety nine pound conveyancing in Yate. The optimum result, in choosing a lawyer for cheap conveyancing, you will get your money’s worth and at worst it will result in you invoiced for additional fees and still not receive the service required.
Our son is purchasing a newly built flat in Yate with a home loan from Nationwide. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nationwide conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am the registered owner of a freehold property in Yate but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Yate and has limited impact for conveyancing in Yate 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 redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Various web forums that I have come across warn that are a common cause of obstruction in Yate house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Searches are unlikely to feature in any delay in conveyancing in Yate.
Can you provide any top tips for leasehold conveyancing in Yate with the purpose of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Yate can be reduced if you appoint lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ lawyers. Many landlords or Management Companies in Yate levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Yate. You believe that you know the number of years remaining on your lease but it would be advisable double-check via your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the lease term is less than 75 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. If you hold a share in a the Management Company, you should make sure that you are holding the original share certificate. Obtaining a replacement share certificate is often a time consuming process and slows down many a Yate home move. If a duplicate share is needed, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.
Leasehold Conveyancing in Yate - A selection of Queries before Purchasing
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Is the freehold reversion owned collectively by the leaseholders? Many Yate leasehold properties will be liable to pay a service charge for maintenance of the block levied by the freeholder. Should you acquire the property you will have to pay this liability, usually periodically throughout the year. This could be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all likelihood there will be a ground rent for you to pay yearly, normally this is not a significant sum, say around £50-£100 but you should to check it because on occasion it can be prohibitively expensive. Are any of leasehold owners in dispute over their service charge payments?
The conveyancers conducting our conveyancing in Yate has forwarded documents to review that state the property is unregistered with epitome documents. Why is the property not registred at HMLR?
Much of the property in Yate is registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Many Yate conveyancing lawyers will be capable of dealing with this type of conveyancing but in the event that uncertainty exists the standard advice presently seems to be for the seller to register the title first and then sell - this can though naturally cause a significant delay.