I purchased a freehold premises in Bushey yet charged rent, why is this and what is this?
It is rare for properties in Bushey and has limited impact for conveyancing in Bushey 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 generation of fresh rentcharges post 1977.
Old 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 extinguished.
I have been recommended a conveyancing solicitor in Bushey. I I would like to check whether they are on the Bank of Ireland conveyancing panel. Could you assist?
The first thing to do is e-mail the lawyer and ask them if they are on the lender panel. Alternatively you can get in touch with Bank of Ireland who may be able to help.
Is it the case that all Bushey CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing list of approved solicitors?
Some major banks and building societies now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
Can you point me to a directory of Coventry BS panel conveyancers in Bushey on the Building Society Association’s Website?
No. There is no such directory service on the CML or Building Society Association sites. A small selection of lending institutions make their panel listings open the public on the web. Where you are seeking to appoint a Bushey conveyancer on the Coventry BS please make the most of our tool.
Our sealed bid on a detached house in Bushey has been accepted, the vendors do nevertheless have a connected purchase. The vendors have offered on a flat, but it’s not yet tied up, and are looking at other flats in the pipeline. I have instructed a high street conveyancing solicitor in Bushey. What should be my next step? At what point should I apply for the mortgage with Yorkshire BS?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then valuation, Bushey conveyancing search charges, etc). First, you must ensure that your lawyer is on the Yorkshire BS conveyancing panel. Regarding the next steps this very much depends on the specifics of your transaction, attraction to the property and on the state of the market. During a buoyant market the majority of purchasers will apply for a home loan with Yorkshire BS and arrange for the valuation and only if it was satisfactory would they request their conveyancer to press on with searches.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when buying a property in Bushey? or I am told that there is a law dating back centuries that means some owners of property living in a parish church boundary will be compelled to contribute towards maintenance to the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Bushey?
Unless a prior acquisition of the house took place after 12 October 2013 you may assume that conveyancing practitioners conducting conveyancing in Bushey to remain recommending a chancel search and or insurance against a claim.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Bushey is the location of the property. What do you suggest?
Flying freeholds in Bushey are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bushey 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 Bushey 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 property.
I'm converting the mortgage on my primary house to a BTL loan with Lloyds TSB Bank and I will use the ballance of the raised equity as a deposit on a second house. The neighborhood we are interested in is Bushey. Will your lawyers be able to act for the two mortgage companies and link together the conveyances?
Make use of our search tool on this site to be sure that the conveyancers are on the relevant lender panels. Assuming that they are the solicitor should be able to connect the two transactions but you should have a chat with you lawyer and communicate your expectations and requirements.