Unfortunately I am unable to travel far from Burton upon Trent. Please clarify why all Burton upon Trent conveyancing practitioners aren't included on all bank panels?
As unjust as it may appear for lenders to limit who can represent them, from the public’s or solicitor’s point of view, the other side of the coin is that lending institutions are increasingly anxious and feel it necessary to defend themselves from mortgage fraud. As a consequence of this concern lenders have reduced their panel of approved conveyancing lawyers to a size that they are happy to control.
Please could you vouch for a Aldermore accepted Burton upon Trent conveyancing firm that can complete within 28 days? Would it be better to use a high street Burton upon Trent conveyancer or an online comparison site?
We would be happy to suggest some excellent Burton upon Trent conveyancing firms. Another option is to visit the main road in Burton upon Trent. Visit two or three law practices and ask to speak with a conveyancing solicitor for a quote. Explain your expectations together with the reasons and ask for an assurance on your deadline. Appoint the one that appears most efficient.
I am the registered owner of a freehold premises in Burton upon Trent but still charged rent, why is this and what is this?
It’s unusual for properties in Burton upon Trent and has limited impact for conveyancing in Burton upon Trent 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 creation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
My uncle passed away six months ago and as sole heir and executor I was left the property in Burton upon Trent. The house had a small mortgage left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Bank of Ireland will require that you use a conveyancer on the Bank of Ireland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Ireland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Ireland mortgage is registered as a charge at the Land Registry.
I am buying my first flat in Burton upon Trent with the aid of help to buy. The sellers would not reduce the price so I negotiated 6k of extras instead. The house builders rep suggested that I not to tell my conveyancer about the side-deal as it will put at risk my mortgage with the lender. Is this normal?.
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.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one close by in Burton upon Trent I like with amenity areas and transport links in the vicinity, however it's only got 61 remaining years left on the lease. There is not much else in Burton upon Trent suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.