I own a freehold house in Llanberis yet charged rent, why is this and what is this?
It’s unusual for properties in Llanberis and has limited impact for conveyancing in Llanberis 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I am mortgaging my flat in Llanberis, does my lawyer have to be on the TSB Solicitor panel?
There is nothing to stop you using your solicitor, but TSB will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
My wife and I are buying a flat in Llanberis. I might seem paranoid but how we can trust a solicitor? On the day of competition we will need to put our life savings into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it correct that all Llanberis CQS (Conveyancing Quality Scheme) solicitors are on the Principality conveyancing panel?
A selection of lenders now utilise CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
After much negotiation I have agreed a price on an apartment in Llanberis. My financial adviser recommended their conveyancers. I paid an upfront payment of £225. A few days later, the lawyer contacted me sheepishly admitting that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Are there any apps to assist me to search for a Llanberis law firm on the Clydesdale conveyancing panel? I drive a motor bike and am happy to travel upto 25kilometers to meet the solicitor.
You can use the tool on this website. Please pick a mortgage company and your location and you will see a number of Llanberis conveyancing lawyers located nearest you. We have detailed some Llanberis conveyancing firms towards the end of this page and you can ring them to check whether they are on the Clydesdale panel
How and when do I pay the Stamp Duty Land Tax payable for my Llanberis house purchase?
The lawyer will fill out a stamp duty return for you as part of your Llanberis conveyancing transaction for signature. After completion your solicitor will submit your STL Return Form to the Inland Revenue and - as long as they have the money - discharge any Stamp Duty payable for you.