I own a freehold house in Alresford but nevertheless pay rent, why is this and what is this?
It is rare for properties in Alresford and has limited impact for conveyancing in Alresford 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 many centuries, but the Rent Charge Act 1977 barred the creation 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 post 2037 will be extinguished.
This question may be naive but I am unexperienced as a 1st time buyer of a two bedroom flat in Alresford. Do I pick up the keys to the premises on the completion date from my conveyancer? If this is the case, I will use a local conveyancing solicitor in Alresford?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the vendor’s solicitors, and once they have received this, you will be called to receive the keys from the Estate Agents and move into your new home. Usually this occurs early afternoon.
I happen to be the sole recipient of my late grandmother’s will and I have everything in my name now, including the house in Alresford. The Alresford property was put into my name in October. I now wish to sell up. I understand that there is a CML six month 'rule', which means that my property ownership may be treated the same way as though I had purchased the house in October. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. many mortgage companies would take a practical view as this clause is principally there to capture subsales or the quick reselling of properties.
Does a directory service exist listing HSBC panel solicitors in Alresford on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lenders make their panel listings open the public on the web. Where you are looking for a Alresford conveyancer on the HSBC please make the most of our facility.
Will our conveyancer be asking questions regarding flooding as part of the conveyancing in Alresford.
The risk of flooding is if increasing concern for solicitors dealing with homes in Alresford. Plenty of people will acquire a house in Alresford, completely aware that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, however there are a various searches that may be undertaken by the purchaser or by their solicitors which will give them a better understanding of the risks in Alresford. The conventional set of completed inquiry forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the owner to discover if the property has ever been flooded. If flooding has previously occurred and is not disclosed by the owner, then a buyer may commence a claim for damages stemming from an incorrect answer. A buyer’s lawyers should also carry out an environmental report. This will indicate whether there is a recorded flood risk. If so, additional investigations will need to be initiated.
I have justbecome aware that Arc property Solicitors have been shut down. They carried out my conveyancing in Alresford for a purchase of a leasehold apartment 12 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The easiest way to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Alresford conveyancing specialists.
Due to the guidance of my in-laws I had a survey completed on a property in Alresford ahead of retaining lawyers. I have been told that there is a flying freehold element to the property. My surveyor has said that some lenders will not grant a loan on this type of house.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Alresford. Conveyancing may be slightly more expensive based on your lender's requirements.
Do I need to be suspicious about estate agents that I am dealing with are suggesting a factory type conveyancing firm as opposed to a High Street Alresford conveyancing firm?
As is the case with many professional services, often recommendations from connections can be extremely useful or valuable. But there are lots of people with a keen interest in a conveyancing deal; estate agents, financial adviser and mortgage companies might all suggest lawyers to appoint. On occasion the solicitors might be known to one of the organisations as being good in their field, but sometimes there is an underlying financial incentive behind the endorsement. You have the discretion to appoint your own conveyancer. However, bear in mind that most lenders specify a panel list of law firms you have to use for the lender aspect of your conveyancing.