I own a freehold residence in Rhos On Sea but still pay rent, why is this and what is this?
It is rare for properties in Rhos On Sea and has limited impact for conveyancing in Rhos On Sea 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 many centuries, 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 post 2037 will be dispensed with completely.
Completion of my remortgage has taken place for my property in Rhos On Sea. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I can not work out if my mortgage offer requires a lease extension. I have called into my local Rhos On Sea bank branch on various occasions and was told they are content with the situation and they will lend. My Rhos On Sea conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the lawyer is on the bank approved list, she or he must adhere to the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Rhos On Sea solicitor - who is on the Yorkshire BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Rhos On Sea surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I note that there are debates on Chancel Insurance on online forums. Do I require this when buying a property in Rhos On Sea? or I am told that there is a law dating back centuries that means some owners of property residing in a parish church boundary may be liable to pay for maintenance to the chancel in proximity to the church. Is this relevant for conveyancing in Rhos On Sea?
Unless a prior acquisition of the house took place after 12 October 2013 you can expect conveyancing practitioners conducting conveyancing in Rhos On Sea to remain recommending a chancel search and or insurance against a claim.
Having had my offer accepted I require leasehold conveyancing in Rhos On Sea. Before I get started I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Rhos On Sea - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I acquired a 1 bedroom flat in Rhos On Sea, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Rhos On Sea with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £45 per annum. The lease terminates on 21st October 2088
With only 67 years unexpired we estimate the price of your lease extension to be between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
My a dozen years ago. He has been married, widowed and is now married again. He will be selling the flat in a couple of months. I suspect that he will simply be asked to supply copies of his marriage certificates to the property lawyer but he is concerned it will frustrate the conveyancing. Should he appoint a solicitor to update the Land Registry documents for the house?
You are not required to update the title for the property on the basis that you have the proof required to show how the name change occurred.
Any buyer’s property lawyer should examine the registered entries and ask for evidence to establish the change of name for instance marriage certificates.