My Bowness On Windermere solicitor has spotted an inconsistency between the information in the valuation report and what is in the title deeds. My solicitor informs me that he is duty bound to check that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s approach right?
Your lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I own a freehold premises in Bowness On Windermere but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Bowness On Windermere and has limited impact for conveyancing in Bowness On Windermere 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 post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
I opted to have a survey carried out on a property in Bowness On Windermere before retaining conveyancers. I have been informed that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies may not issue a loan on this type of premises.
It varies from the lender to lender. Lloyds has different requirements for example to Halifax. Should you wish to telephone us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bowness On Windermere. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bowness On Windermere to see if the conveyancing will be more expensive.
I wish to sublet my leasehold flat in Bowness On Windermere. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your previous Bowness On Windermere conveyancing lawyer is no longer around you can check your lease to see if you are permitted to let out the premises. The accepted inference is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek permission from your landlord or other appropriate person before subletting. This means you not allowed to sublet in the absence of prior permission. Such consent should not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I purchased a 1st floor flat in Bowness On Windermere, conveyancing having been completed 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Bowness On Windermere with an extended lease are worth £190,000. The ground rent is £45 charged once a year. The lease runs out on 21st October 2081
With only 62 years left to run the likely cost is going to span between £17,100 and £19,800 as well as costs.
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 comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
We are seeking to acquire a repossessed flat in Bowness On Windermere and the bank selling demand completion inside 28 days. Do lawyers meet that timeframe? Would it be better to instruct a high street Bowness On Windermere firm or an online firm that professes to offer speedy conveyancing?
Visit your Bowness On Windermere shopping parade. Go in to 3 firms and request to talk to a conveyancing solicitor for an estimate. Set out your requirements and seek assurances on speed. Choose the one that comes across as most genuine. You need to select a solicitor on the list of solicitors approved by your mortgage company.