I purchased a freehold residence in Llanfyrnach yet invoiced for rent, why is this and what is this?

It is rare for properties in Llanfyrnach and has limited impact for conveyancing in Llanfyrnach 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 date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.

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

Various internet forums that I have come across warn that are the number one cause of obstruction in Llanfyrnach conveyancing transactions. Is there any truth in this?

The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays in the conveyancing process. Searches are unlikely to be the root cause of delay in conveyancing in Llanfyrnach.

I'm buying my first flat in Llanfyrnach with a loan from Lloyds TSB Bank. The builders refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not inform my solicitor about the deal as it will affect my loan with the lender. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

My husband and I are novice buyers - had an offer accepted, but the estate agent told us that the vendor will only proceed if we use the agent's preferred conveyancers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a high street solicitor who is accustomed to conveyancing in Llanfyrnach

It is highly unlikely the sellers are behind this. Should the vendor require ‘a quick sale', taking such a hostile approach to a genuine buyer is not the way to achieve this. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)but you will continue to instruct your own,trusted Llanfyrnach conveyancing lawyers - as opposed tothe ones that will give their estate agent a commission or achieve conveyancing thresholds pre-set by corporate headquarters.

Looking forward to complete next month on a ground floor flat in Llanfyrnach. Conveyancing solicitors inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Llanfyrnach should include some of the following:

The physical extent of the property. This could be the property itself but could also include a loft or storage are if appropriate. What options are available to the landlord where you breach a clause of your lease? Does the lease require carpeting throughout thus preventing wood flooring? How long the lease is. You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years

Llanfyrnach Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing

Please note that where the lease has no more than eighty years it will have adverse implications on the marketability of the apartment. It is worth checking with your lender that they are happy with residual term of the lease. A short lease means that you will most likely need a lease extension at some point and it is worth finding out how much this will be. Remember, in most cases you would be be obliged to have been the owner of the premises for a couple of years before you are entitled to extend the lease. Be sure to enquire if there are any onerous restrictions in the lease. By way of example it is fairly common in Llanfyrnach leases that pets are not permitted in in a block in Llanfyrnach. If you like the apartmentin Llanfyrnach yet your cat can’t make the move with you then you have a very difficult compromise.