I am the registered owner of a freehold residence in Bredbury but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Bredbury and has limited impact for conveyancing in Bredbury 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 post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
We wish to acquire a newly converted apartment in Bredbury with a residential mortgage from The Royal Bank of Scotland.We would like to retain our Bredbury conveyancing practitioner but The Royal Bank of Scotland informed us his firm is not on their "panel". It seems we are left with little choice but to instruct a The Royal Bank of Scotland panel lawyer or retain our preferred solicitor and pay for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that The Royal Bank of Scotland use our lawyer?
Unfortunately,no. The mortgage issued to you contains terms and conditions, one of which will be that lawyers must be on the The Royal Bank of Scotland approved list. Until recently, most mortgage companies 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for The Royal Bank of Scotland
Is there a list of Clydesdale panel solicitors in Bredbury on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lending institutions make their panel listings open the public online. Where you are seeking to appoint a Bredbury lawyer on the Clydesdale please make the most of our tool.
Is it the case that all Bredbury solicitors on the Leeds Building Society conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Leeds Building Society approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of lenders do permit licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
Can I be sure that the Bredbury conveyancing solicitor on the Santander panel is any good?
When it comes to conveyancing in Bredbury seeking recommendations is a good starting point. 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 advise that you speak with the solicitor carrying out your transaction.
It has been 3 months since my purchase conveyancing in Bredbury took place. I have checked the Land Registry website which shows that I paid £175,000 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 looking for a leasehold apartment up to £305k and identified one round the corner in Bredbury I like with a park and station nearby, however it only has 51 years unexpired on the lease. There is not much else in Bredbury in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
I acquired a flat in Bredbury last 15/10/2024 and to date it is still not recorded with HM Land Registry. It is part of a new estate and my conveyancing practitioner told me that it may take twelve months to complete the registration formalities. I have contacted HM Land Registry directly and they have informed me the original application was cancelled due to questions not being addressed in time. What can I do?
It is your conveyancer that you must get in touch with in order to satisfy any issues which have been raised as part of the registration process for your Bredbury property. Normal Bredbury conveyancing practice includes an undertaking on the part of the previous owner’s lawyer that they will assist in resolving any registration raised by HMLR so it may be a case of taking action to enforce that undertaking if necessary.