I am the registered owner of a freehold house in Bognor Regis but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Bognor Regis and has limited impact for conveyancing in Bognor Regis 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 creation 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 is to be dispensed with completely.
We intend to purchase a purpose built apartment in Bognor Regis with a residential mortgage from Barclays Direct.We like our Bognor Regis conveyancing practitioner but Barclays Direct informed us she’s not on their "panel". We have to appoint a Barclays Direct panel solicitor or retain our preferred solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The home loan offered to you contains various provisions, one of which will be that lawyers needs to be on the Barclays Direct conveyancing panel. in the past, most lenders had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Barclays Direct
My bid for a property was accepted at auction in Bognor Regis. Conveyancing is required. What is next?
Having legally committed yourself to purchase you must find a conveyancing practitioner quickly as you are faced with a fast approaching deadline in which to complete the transaction. Every auction property will have a corresponding legal pack. This should include most,if not all of the paperwork that your conveyancer will need. If you have purchased leasehold property the legal papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You need to hand this to your appointed conveyancing solicitor ASAP. You also need to ensure that that you have the requisite funding organised to complete on the on the contractual date .
I'm the sole recipient of my late grandmother’s will with all property in now in my sole name, including the my former home in Bognor Regis. The Bognor Regis property was put into my name in February. I want to move. I understand that there is a CML six month 'rule', meaning my property ownership may be regarded the same way as if I'd bought the house in February. Do I have to wait 6 months to sell?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. Most mortgage companies would take a sensible view as this provision primarily exists to pick up on subsales or the wholesaling and assigning of property.
Are all Bognor Regis Conveyancing Quality Solicitors on the TSB conveyancing list of approved practices?
It is true that some banks and building societies now use CQS as the kick off point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Bognor Regis is the location of the property. What do you suggest?
Flying freeholds in Bognor Regis are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bognor Regis you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bognor Regis may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
As co-executor for the will of my grandfather I am selling a residence in Newport but I am based in Bognor Regis. My lawyer (who is 300 kilometers awayneeds me to sign a statutory declaration ahead of completion. Can you recommend a conveyancing practitioner in Bognor Regis who can witness this legal document for me?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are located in Bognor Regis
Our lenders have just issued us with a mortgage offer. We are using a reputable conveyancer in Bognor Regis yesterday. A couple of hours ago, our mortgage adviser contacted us saying that the bank said that we cannot use our solicitor as they aren't on their 'approved list'. As novices, we did not have a clue that the lender had some control over our choice Is this permitted?
You are permitted to choose any property lawyer you want to appoint including the said conveyancer in Bognor Regis nevertheless if your mortgage company aren't happy with them you will have to incur an extra fee so the mortgage company can retain their own solicitors as well to protect their interest. On occasion it is conceivable that your solicitor may apply to get included on to the bank panel. You can use online search facilities such as lenderpanel.com to find a conveyancing solcitor in Bognor Regis on the bank panel. You can go into your local bank branch in Bognor Regis. They can recommend conveyancing solicitors in Bognor Regis on the bank panel.