I am expecting a offer of a home loan from Lloyds. My intention is to enlist the help of a Licensed Conveyancer in Cardigan. Does the Lloyds Solicitor panel include Licensed Conveyancers?
The Lloyds conveyancing panel is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I own a freehold premises in Cardigan but still pay rent, why is this and what is this?
It’s unusual for properties in Cardigan and has limited impact for conveyancing in Cardigan 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 generation of fresh rentcharges from 1977 onwards.
Old 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.
I need some expedited conveyancing in Cardigan as I have an ultimatum to sign on the dotted line in less than 3 weeks. Thankfully I do not need a mortgage. Is it possible to escape the need for conveyancing searches to save fees and time?
If.Given you are not taking a mortgage you have the choice not to do searches although no conveyancer would suggest that you don't. With plenty of history conveyancing in Cardigan the following are examples of issues that can appear and adversely impact market value: Enforcement Actions, Overdue Charges, Overdue Grants, Road Schemes,...
Do I need to be concerned about estate agents that I am dealing with are recommending a nationwide conveyancing firm rather than a local Cardigan conveyancing firm?
As is the case with many professional services, often suggestions from family and friends can be very helpful. Nevertheless there are lots of people with a keen interest in a conveyancing matter; estate agents, mortgage brokers and banks might all suggest conveyancers to instruct. On occasion these solicitors might be known to one of the organisations as one of the best in their field, but sometimes there behind the scenes financial incentive behind the recommendation. You are at liberty to select your preferred lawyer. However, bear in mind that some lenders specify a panel list of lawyers you are obliged to use for the lender related work in your conveyancing.
Jane (my partner) and I may need to rent out our Cardigan 1st floor flat for a while due to taking a sabbatical. We instructed a Cardigan conveyancing practice in 2004 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
A lease governs the relationship between the freeholder and you the flat owner; in particular, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Cardigan do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I invested in buying a 1st floor flat in Cardigan, conveyancing having been completed in 2009. Can you work out an approximate cost of a lease extension? Equivalent flats in Cardigan with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease terminates on 21st October 2086
You have 64 years left to run we estimate the premium for your lease extension to range between £15,200 and £17,600 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered 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 before getting professional advice.