The vendors of the house we are purchasing have instructed a conveyancing firm in Burry Port who has insisted on a lock out agreement with a payment 6,000. Are such agreements the norm for Burry Port conveyancing transactions?
There are two main downsides with signing a lock out agreement (sometimes termed an exclusivity agreement) is that it takes away the focus from moving forward with the conveyancing work, so unless it requires minimal or no negotiation then it may turn out to be a cause of frustration and delay. It is not strongly advocated amongst Burry Port conveyancing practitioners as a result. A supplemental issue is the extent of the remedies available - a jilted purchaser is extremely unlikely to be issued with injunctive relief to stop the vendor completing the sale to an alternative purchaser, so the only remedy open via the agreement will be the reimbursement of wasted charges and, in restricted scenarios, the extra payment of penalties.
I purchased a freehold house in Burry Port yet charged rent, why is this and what is this?
It’s unusual for properties in Burry Port and has limited impact for conveyancing in Burry Port 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 new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
This question may be naive but I am wet behind the ears as a 1st time purchaser of a two bedroom flat in Burry Port. Do I collect the keys to the property on completion from my solicitor? If so, I will find a High Street conveyancing solicitor in Burry Port?
On the day of completion you do not need to attend the conveyancers office in Burry Port. Conveyancing lawyers for you will electronically transfer the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you should be invited to receive the keys from the property Agents and start moving into the property. Usually this occurs early afternoon.
We are purchasing a 4 bedroom semi-detached house in Burry Port. The intention is to convert the garage to a playroom at the house.Will the conveyancing process involve enquiries to ascertain if these alterations are prohibited?
Your conveyancer should review the registered title as conveyancing in Burry Port can occasionally identify restrictions in the title deeds which prevent certain changes or necessitated the consent of another owner. Some extensions require local authority planning consent and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
I have paid off my mortgage with Co-operative. I assume I don't need a Burry Port conveyancer on the Co-operative panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
My father has recommend that I use his conveyancing solicitors in Burry Port. Do I take his recommendation?
Much as we are happy to recommend a Burry Port conveyancing lawyer it’s preferable to find a conveyancing lawyer is to get guidance from friends or family who have previously instructed the conveyancer that you are considering.
I own a leasehold flat in Burry Port. Conveyancing and Halifax mortgage organised. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Burry Port who previously acted has long since retired. Any advice?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Burry Port conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Burry Port Leasehold Conveyancing - Examples of Questions you should consider Prior to buying
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What restrictions exist in the Burry Port Lease? Is there a share of the freehold? Who manages the block?