Please help. My Bowness On Windermere solicitor is advising me that he has toapply for Bowness On Windermere conveyancing searches asthe firm are on the Virgin Moneyapproved lawyer panel. Is this really necessary?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Bowness On Windermere conveyancing searches.
I own a freehold property in Bowness On Windermere yet invoiced for rent, why is this and what is this?
It is rare for properties in Bowness On Windermere and has limited impact for conveyancing in Bowness On Windermere 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.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I have been told that property searches are the main cause of stalling in Bowness On Windermere conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of holding up conveyancing in Bowness On Windermere.
My wife and I have a renovated Georgian property in Bowness On Windermere. Conveyancing practitioner represented me and Coventry Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bowness On Windermere and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with the conveyancing lawyer who conducted the purchase.
I have been on the look out for a flat up to £195,000 and found one near me in Bowness On Windermere I like with amenity areas and railway links nearby, however it's only got 49 years on the lease. There is not much else in Bowness On Windermere for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
We're FTB’s - had an offer accepted, but the property agent advised that the seller will only issue a contract if we use the agent's preferred lawyers as they need a ‘quick sale’. My instinct tells me that we should use a high street conveyancer who is familiar with conveyancing in Bowness On Windermere
We suspect that the seller is unaware of this demand. If they want ‘a quick sale', taking such a hostile approach to a genuine purchaser is not the way to achieve this. Contact the sellers directly and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are chain free (d) you wish to move quickly (e)however you intend to use your preferred Bowness On Windermere conveyancing lawyers - as opposed tothe ones that will give their negotiator at the agency a introducer fee or achieve conveyancing thresholds set by corporate headquarters.