I am in a contract race with another buyer for a property in Ross On Wye. What can I do to speed up matters?

Where the seller is applying time constraints for your conveyancing it is highly recommended that your lawyer is familiar with the location as they will make use of local contacts and knowledge. It is even conceivable that they could have handled otherhouses in the same road. Therefore consider using a Ross On Wye conveyancing firm. Second, double check that the conveyancing firm is on the on the approved list for your mortgage company. It is understood that 18% of Ross On Wye conveyancing transactions are suspended or jeopardised after discovering a buyer’s solicitor was not on their banks member panel. This can often result in the conveyancing being delayed by almost 21 days. It is believed that this issue affects approximately one hundred thousand home sales annually. Almost all Ross On Wye conveyancing firms can not act for certain lenders so do check at the outset.

I own a freehold house in Ross On Wye but still charged rent, why is this and what is this?

It’s unusual for properties in Ross On Wye and has limited impact for conveyancing in Ross On Wye 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 post 1977.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.

My bank has suggested a law firm on their panel based in Ross On Wye but I would rather use a conveyancing lawyer in Ross On Wye or nearer to where I live. Are you able to help?

Far from all Ross On Wye conveyancing practices are approved and listed on all lender’s conveyancing panel. Do make the most of our search tool to locate a Ross On Wye conveyancing solicitor on the on the lender panel.

Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Ross On Wye is where the house is located. Can you offer any opinion?

Flying freeholds in Ross On Wye are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ross On Wye you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ross On Wye may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

I am looking at a two flats in Ross On Wye which have approximately fifty years unexpired on the lease term. should I be concerned?

There are plenty of short leases in Ross On Wye. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field.

Leasehold Conveyancing in Ross On Wye - Sample of Queries Prior to buying

How many of the leaseholders are in arrears for their service charge payments? It would be prudent to find out as much as possible about the company managing the block as they will either make life much easier or uncomfortable. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to day to day matters like the tidiness of the communal areas. Ask other tenants if they are happy with their management. Finally, find out the dates that the maintenance fees are due to the managing agents and precisely what it includes. What is the name of the managing agents?