I own a freehold house in Rubery but nevertheless pay rent, why is this and what is this?
It is rare for properties in Rubery and has limited impact for conveyancing in Rubery 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 creation of new rentcharges from 1977 onwards.
Previous 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 dispensed with completely.
We are selling our flat in Rubery. Does the lawyer need to be on the Principality conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Principality conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
This question may be naive but I am new to the process as FTB of a garden flat in Rubery. Do I receive the keys to the premises on the completion date from my conveyancer? If so, I will find a local conveyancing solicitor in Rubery?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's solicitors, and shortly after the monies have arrived, you should be invited to collect the keys from the Estate Agents and move into your new home. Usually this occurs early afternoon.
It is unclear whether my lender requires a lease extension. I have called my Rubery building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Rubery conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. I simply don't know who is right.
The property lawyer must comply with the CML Handbook Part 2 provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I was told two weeks ago that my mortgage has been agreed to by Co-operative. Is it usual for Co-operative to only issue the offer once my solicitor in Rubery is approved on their conveyancing panel? Co-operative have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Co-operative to deal with your lawyer's application to be on the Co-operative conveyancing panel. There's no guarantee that your solicitor will be accepted.
Do commercial conveyancing searches disclose proposed roadworks that may impact a commercial property in Rubery?
Its becoming the norm that commercial conveyancing solicitors in Rubery will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Rubery. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Rubery.
For every commercial conveyancing transaction in Rubery it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to Rubery commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Rubery.
I am buying a new build flat in Rubery. Conveyancing is daunting 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.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Rubery
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? 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. There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.