My IFA says he needs my Leicestershire law firm’s panel reference for the Nat West conveyancing panel. How do I discover this. I have called my local Leicestershire office but they cant find it on their system.
Have you tried calling your Leicestershire conveyancing practitioner about this?. Most Leicestershire conveyancing practices will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
I purchased a freehold house in Leicestershire but nevertheless charged rent, why is this and what is this?
It is rare for properties in Leicestershire and has limited impact for conveyancing in Leicestershire 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 creation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
A friend suggested that if I am purchasing in Leicestershire I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Leicestershire conveyancing searches. It is not a small report of more than thirty pages, listing and setting out important information about Leicestershire around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Leicestershire Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful data regarding Leicestershire.
My husband and I are new to the buying process - had an offer accepted, yet the selling agent informed us that the owners will only proceed if we appoint their preferred lawyers as they want a ‘quick sale’. We would rather use a family solicitor who is accustomed to conveyancing in Leicestershire
We suspect that the owner is not behind this requirement. Should the owner require ‘a quick sale', taking such a hostile approach to a genuine purchaser is likely to cause more damage than good. Speak to the vendors direct and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you will continue to appoint your preferred Leicestershire conveyancing solicitors - rather thanthose that will give the negotiator at the agency a kickback or achieve conveyancing targets set by senior management.
I work for a reputable estate agent office in Leicestershire where we have witnessed a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received contradictory information from local Leicestershire conveyancing firms. Could you clarify whether the vendor of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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.
Leicestershire Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing
Who is in charge of the block? It is important to be aware if window replacement or some other significant cost is due in the near future that will be shared by the leasehold owners and will materially increase the the maintenance fees or necessitate a specific payment. The best form of lease structure is where the freehold interest is owned by the leaseholders. In this scenario the leaseholders benefit from control and although a managing agent is frequently retained where it is larger than a house conversion, the managing agent acts for the leaseholders themselves.