I am the registered owner of a freehold property in Brunswick Park but still charged rent, why is this and what is this?
It is rare for properties in Brunswick Park and has limited impact for conveyancing in Brunswick Park 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 generation 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 post 2037 is to be dispensed with completely.
What happens if my lawyer’s firm is expelled from the Skipton Solicitor panel ahead of completing my conveyancing in Brunswick Park?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Can you help - my lawyer advises that missing deeds insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Brunswick Park?
The right level of missing deeds indemnity insurance depends on who your lender is. It would differ for example between Accord Mortgages Ltd and The Mortgage Works. Conveyancing practitioners as opposed to borrowers take out such policies.
How can we tell if a Brunswick Park conveyancing solicitor on the Aldermore panel is any good?
When it comes to conveyancing in Brunswick Park getting recommendations is a sensible start. 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 recommend that you speak with the lawyer carrying out your transaction.
I was told four weeks ago that my mortgage has been agreed to by Bank of Ireland. Is it usual for Bank of Ireland to only issue the offer once my solicitor in Brunswick Park is approved on their conveyancing panel? Bank of Ireland have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Bank of Ireland to deal with your lawyer's application to be on the Bank of Ireland conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Brunswick Park differ for new build properties?
Most buyers of new build residence in Brunswick Park approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because developers in Brunswick Park tend to acquire the site, 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 conveyancing solicitors 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 used to new build conveyancing in Brunswick Park or who has acted in the same development.
My husband and I are FTB’s - had an offer accepted, yet the selling agent told us that the seller will only move forward if we appoint the agent's recommended solicitors as they want a ‘quick sale’. My instinct tells me that we should use a family conveyancer accustomed to conveyancing in Brunswick Park
We suspect that the owner is not behind this ultimatum. If they desire ‘a quick sale', taking such a hostile approach to a motivated buyer is not the way to achieve this. Speak to the owners direct and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you are going to appoint your own,trusted Brunswick Park conveyancing firm - not the ones that will provide the estate agent a kickback or meet his conveyancing figures demanded by head office.
My father-in-law mentioned that before choosing a conveyancing firm they need approved by your bank. I am first time buyer with but I have an AIP from Nat West Bank and I already have a family conveyancing lawyer in Brunswick Park at the ready. Will Nat West Bank need an approved lawyer to be selected? Does a directory of approved solicitors even exist so I can appoint a conveyancing solicitor in Brunswick Park?
You need to use a solicitor that is on the Nat West Bank panel. The first thing to do is ring your preferred Brunswick Park conveyancing solicitor to check if they are on the Nat West Bank panel. If they are not approved you have a number of choices available to you here:
- Proceed with your existing Brunswick Park property lawyer but Nat West Bank will undoubtedly retain a conveyancing practitioner from their approved panel. The net impact is additional charges together with probable frustration.
- Appoint a new lawyer to act in the purchase, not forgetting to check that they are on the Nat West Bank conveyancing panel.
- Convince your conveyancing practitioner to attempt to join the bank panel.