I purchased a freehold property in Bargoed but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Bargoed and has limited impact for conveyancing in Bargoed 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 fresh 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 is to be dispensed with completely.
We previously selected conveyancing lawyers based in Bargoed on the Principality solicitor panel. They are now charging me a separate fee for the legal aspects of the Principality mortgage. Is this an additional conveyancing fee specified by Principality?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancing practitioner can charge a fee for this. The fee is not set by Principality but by your Bargoed conveyancer. Some firms on the Principality panel will charge an ‘acting for lender’ fee and others do not.
My partner and I have organised a further advance on our home loan from Santander as we intend to carry out renovations to our home in Bargoed. Do we need to appoint a high street Bargoed solicitor on the Santander conveyancing panel to handle the legals?
Santander don't usually appoint firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Santander conveyancing panel.
At last I have had an offer on an apartment in Bargoed agreed to, but there is a chain. The owners have put an offer on a property, but it’s not yet agreed to, and have viewings of other properties in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Bargoed. What do I do now? When do I get the mortgage application with Skipton going?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx £1k, then survey, Bargoed conveyancing search fees, etc). First, you must check that your conveyancer is on the Skipton approved list. As to the next phase this very much dictated by the circumstances of your transaction, motivation for the property and on the state of the market. In a hot market many buyers will apply for the mortgage with Skipton and pay for the valuation and only if it was satisfactory would they pay their conveyancer to proceed with searches.
Will our lawyer be making enquiries concerning flooding during the conveyancing in Bargoed.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Bargoed. There are those who acquire a property in Bargoed, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, but there are a various searches that can be carried out by the purchaser or on a buyer’s behalf which will figure out the risks in Bargoed. The conventional set of property information forms sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to determine whether the premises has suffered from flooding. If the premises has been flooded in past which is not disclosed by the vendor, then a buyer could commence a claim for damages as a result of such an incorrect reply. A purchaser’s lawyers will also order an enviro report. This should reveal whether there is any known flood risk. If so, further inquiries should be initiated.
Due to the advice of my in-laws I had a survey completed on a house in Bargoed in advance of instructing lawyers. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some lenders may refuse to give a mortgage on this type of property.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. If you e-mail us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bargoed. Conveyancing will be smoother if you use a solicitor in Bargoed especially if they regularly deal with such properties in Bargoed.
What does commercial conveyancing in Bargoed cover?
Bargoed conveyancing for business premises incorporates a wide array of services, supplied by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.