I purchased a freehold premises in Becontree yet pay rent, why is this and what is this?
It is rare for properties in Becontree and has limited impact for conveyancing in Becontree 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 generation of fresh 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 in 2037 will be dispensed with completely.
Are all Becontree Conveyancing Quality Solicitors on the Coventry BS conveyancing panel?
It is true that some lenders now utilise CQS as the starting point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
We had selected conveyancers with offices in Becontree on the HSBC solicitor approved list. They have just billed me a supplemental charge for handling the HSBC mortgage. Is this an additional conveyancing fee specified by HSBC?
Provided it is contained in their Terms of Engagement or estimate then yes your property lawyer may levy a fee for this. This fee is not set by HSBC but by your Becontree solicitor. Numerous firms on the HSBC panel will quote an ‘acting for lender’ fee but some firms incorporate it on their overall fee.
The formalities of my remortgage has taken place for my property in Becontree. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Various internet forums that I have come across warn that are the number one reason for delay in Becontree conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Becontree.
Are there restrictive covenants that are commonly identified as part of conveyancing in Becontree?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Becontree. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I decided to have a survey carried out on a property in Becontree prior to retaining conveyancers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some banks will not grant a mortgage on a flying freehold house.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. If you contact us we can check with 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 Becontree. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Becontree to see if the conveyancing will be more expensive.
How do I find a Becontree conveyancing solicitor on the mortgage company conveyancing panel? I have a car and am prepared to travel up to 25miles to attend the solicitor.
You can use the find a conveyancing panel tool on this website. Please choose the lender and your location, in this case Becontree and you will see a number of lawyer located nearest Becontree. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the mortgage company solicitor panel.