I own a freehold house in Ammanford but still invoiced for rent, why is this and what is this?

It’s unusual for properties in Ammanford and has limited impact for conveyancing in Ammanford 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.

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

My wife and I are buying a flat in Ammanford. I might seem paranoid but how we can trust a conveyancer? At some point we have to send our life savings into their account. What is the protection we have from them run away with our monies?

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 Ammanford CQS (Conveyancing Quality Scheme) solicitors are on the Clydesdale conveyancing panel?

Some major lenders now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.

I can not fathom if my mortgage offer requires a lease extension. I have telephoned my Ammanford building society branch on numerous occasions and was told they are content with the situation and they will lend. My Ammanford conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend in accordance with their specific requirements. I simply don't know who is right.

Provided that the conveyancing practitioner is on the lender approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook conditions 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.

I acquired my apartment on 6 May and the transaction details are still not on the land registry website. Need I be worried? My conveyancing solicitor in Ammanford said it would be concluded in a couple of weeks. Are titles in Ammanford uniquely lengthy to register?

As far as conveyancing in Ammanford is concerned, registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can vary depending on the party submitting the application, whether there are errors and whether the Land registry communicate with any third parties. Currently roughly three quarters of submission are fully dealt with within 12 days but occasionally there can be protracted hold-ups. Registration takes place once the new owner has moved in to the premises so an expedited registration is not always an essential issue but if there is a degree of urgency associated with the registration then you or your conveyancer must contact the land registry and explain the circumstances.

I am buying a new build flat in Ammanford. Conveyancing is necessary evil 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 few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Ammanford

Forfeiture - bankruptcy or liquidation must not apply under this provision. 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply evidence that the form of Lease proposed has been approved by the Land Registry.

What makes a Ammanford lease problematic?

Leasehold conveyancing in Ammanford is not unique. Most leases are unique and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

A provision to repair to or maintain elements of the premises

You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, The Royal Bank of Scotland, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

I bought a 2 bed flat in Ammanford, conveyancing having been completed June 2012. How much will my lease extension cost? Equivalent properties in Ammanford with a long lease are worth £216,000. The ground rent is £50 per annum. The lease finishes on 21st October 2094

With only 69 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.