I am the registered owner of a freehold residence in Bishop Auckland yet charged rent, why is this and what is this?
It’s unusual for properties in Bishop Auckland and has limited impact for conveyancing in Bishop Auckland 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 new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Our bank has suggested a law firm on their panel based in Bishop Auckland but I would rather use a conveyancing lawyer in Bishop Auckland local to me. Can you assist?
Not all Bishop Auckland conveyancing solicitors are on all lender’s conveyancing panel. Use the above search tool to find a Bishop Auckland conveyancing solicitor on the on the bank panel.
We previously chose conveyancing lawyers with offices in Bishop Auckland on the Virgin Money solicitor approved list. They are now charging me a supplemental charge for handling the Virgin Money mortgage. Is this an additional conveyancing fee specified by Virgin Money?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer is entitled to charge a fee for this. This charge is not set by Virgin Money but by your Bishop Auckland lawyer. Some firms on the Virgin Money panel will levy an ‘acting for lender’ fee but many practices include it on their overall fee.
How can we know in advance if a Bishop Auckland conveyancing solicitor on the Bank of Ireland panel is any good?
When it comes to conveyancing in Bishop Auckland obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer carrying out your transaction.
I currently have a mortgage with Santander for my property in Bishop Auckland. Conveyancing was finalised months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Santander?
Santander must be informed of your intention before letting out your property as this is likely to be a breach of Santander’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Santander directly. It should not be necessary to do this via a Santander conveyancing panel firm.
What will a local search reveal concerning the house we're buying in Bishop Auckland?
Bishop Auckland conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company for example PSG The local search is essential in every Bishop Auckland conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your property. The search will supply information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
I used Action Conveyancing a few years ago for my conveyancing in Bishop Auckland. I now require my papers however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Bishop Auckland of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Bishop Auckland differ for newly converted properties?
Most buyers of new build residence in Bishop Auckland come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is finished. This is because builders in Bishop Auckland usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Bishop Auckland or who has acted in the same development.