My fiance and I are acquiring a ground floor flat in Okehampton. My lawyer has never been on on the lender approved panel. Can I still appoint my Okehampton conveyancing solicitor even though they are excluded from the bank approved list?
You have numerous alternatives open to you here
- Proceed with your existing Okehampton solicitor but your bank will no doubt appoint a conveyancer on their approved panel. This will result in additional charges together with potential frustration.
- Appoint a new property lawyer to act in the purchase, ensuring that they are on the mortgage company conveyancing panel.
- Convince your property lawyer to do everything possible to get listed on the lender’s conveyancing panel
I am the registered owner of a freehold premises in Okehampton but still pay rent, why is this and what is this?
It is rare for properties in Okehampton and has limited impact for conveyancing in Okehampton 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 establishment of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I am buying a new build flat in Okehampton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Okehampton
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please confirm the Lease plans are surveyor prepared.
Given that I will soon spend 450k on a house in Okehampton I would like to talk to a solicitor about myhouse move ahead of giving the go ahead to the firm. Is this something that you can arrange?
This is something that we encourage - we would be pleased to talk to you we do not take any clients on without you speaking to the lawyer who will be conducting your conveyancing in Okehampton.There is no ‘factory style conveyancing’ - every client is unique individual, not a file number. The practices that we put you in touch with believe that the figure you are provided with for residential conveyancing in Okehampton should be the amount on the final invoice that you are charged.
Back In 2004, I bought a leasehold house in Okehampton. Conveyancing and Nottingham Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Okehampton who acted for me is not around. Do I pay?
The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Okehampton conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a 1st floor flat in Okehampton, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Okehampton with over 90 years remaining are worth £190,000. The ground rent is £65 charged once a year. The lease runs out on 21st October 2082
You have 61 years remaining on your lease we estimate the premium for your lease extension to be between £19,000 and £22,000 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.