I require conveyancing for an apartment in a relatively new development (seven years old) in Braunstone. The vast majority the properties have already been sold. Is it strictly necessary to order local searches as part of conveyancing in Braunstone?
If you getting a mortgage, your lender will require some (many) of the searches so you'll have no choice. If not, then Braunstone conveyancing searches are optional. No doubt your conveyancer, will ’encourage’, perhaps in the strongest possible terms, that you should have the searches done, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in Braunstone.
I am the registered owner of a freehold residence in Braunstone yet charged rent, why is this and what is this?
It’s unusual for properties in Braunstone and has limited impact for conveyancing in Braunstone 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
I require expedited conveyancing in Braunstone as I am faced with an ultimatum to exchange contracts inside one month. Thankfully I do not require a mortgage. Can I avoid the conveyancing searches to save money and time?
As you are not obtaining a mortgage you are at free not to do searches although no lawyer would recommend that you don't. With plenty of history conveyancing in Braunstone the following are examples of what can arise and adversely affect future saleability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Road Schemes,...
3 months have elapsed following my purchase conveyancing in Braunstone concluded. I have checked the Land Registry website which shows that I paid £150,000 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 premises 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.
How does conveyancing in Braunstone differ for newly converted properties?
Most buyers of new build residence in Braunstone come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because developers in Braunstone tend to buy 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 conveyancers 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 accustomed to new build conveyancing in Braunstone or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Braunstone is the location of the property. Can you shed any light on this issue?
Flying freeholds in Braunstone are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Braunstone you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Braunstone may determine 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.