I am purchasing a house mortgage free in Branston. I have resided for the previous 15 years in Branston. Conveyancing searches are expensive. Given that I know the area and road very well must I have all the conveyancing searches?
If you not getting a home loan, then all but one or two of the Branston conveyancing searches are non-obligatory. Your lawyer will ’encourage you, no-doubt strongly, that you should have searches done, but she has a professional duty to take that path of guidance. One thing to bear in mind; if you are intend to sell the house in the future, it may be of importance to your future buyer what the searches determine. On occasion properties with apparent issues can still reveal unfavourable search results. A competent conveyancing solicitor in Branston will provide you some helpful guidance in this regard.
I am the registered owner of a freehold house in Branston but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Branston and has limited impact for conveyancing in Branston 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 from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
It has been four months following my purchase conveyancing in Branston took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in Branston with the aid of help to buy. The developers refused to budge the amount so I negotiated £7000 of extras instead. The sale representative advised me not reveal to my lawyer about the extras as it would put at risk my loan with Britannia. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the encouragement of my in-laws I had a survey completed on a house in Branston prior to retaining solicitors. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some lenders will not grant a mortgage on this type of home.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Branston. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to find a conveyancing solicitor for residential conveyancing in Branston. I have stumble across a web site which seems to have the perfect offering If it is possible to get all the legals completed via phone that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?