My wife and I are buying a 1 bedroom flat in Camelford with a mortgage. We like our Camelford lawyer, however the lender says he's not on their "panel". We have to appoint one of the bank panel firms or continue with our Camelford conveyancer as well as pay for one of their panel firms to act for them. This feels very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Camelford conveyancing lawyer to apply to be on the conveyancing panel.
I have given 2 months notice to my existing landlord and have to be out of my let out flat in Camelford by the end of next month. Conveyancing on my purchase is progressing. Can I complete in 5 weeks as I wish to avoid having to find temporary accommodation?
The normal practice is not to serve notice for your tenancy unless you have exchanged. If you have not already done so, speak to your conveyancer and request that they seek the assistance the owners lawyers, try to an acceptable time-line that everyone will work towards
I own a freehold premises in Camelford but still charged rent, why is this and what is this?
It is rare for properties in Camelford and has limited impact for conveyancing in Camelford 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 creation 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 after 2037 will be dispensed with completely.
Are the BSA intent on creating a online directory to list solicitors on the Coventry BS conveyancing panel for instance in Camelford?
Lexsure has not been advised of any intention on the part of the BSA to promote such a search facility.
Can you provide any top tips for leasehold conveyancing in Camelford with the purpose of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Camelford can be bypassed where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers’ lawyers. If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Camelford state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Where you dont have the approvals in place you should not contact the landlord without checking with your solicitor before hand. If there is a history of conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be concerned about purchasing a flat where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than unresolved. If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Arranging a duplicate share certificate is often a lengthy process and delays many a Camelford home move. If a reissued share is required, do contact the company officers or managing agents (if relevant) for this as soon as possible.
I own a 1st floor flat in Camelford, conveyancing having been completed 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Camelford with over 90 years remaining are worth £227,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2090
With 71 years unexpired the likely cost is going to be between £9,500 and £11,000 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.