My wife and I are intending to acquire a 1 bedroom apartment in Castle Cary with a mortgage. We have a Castle Cary solicitor, however the lender says he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or keep our Castle Cary property lawyer and pay for one of their panel firms to represent them. We regard this is unjust; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms 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 Castle Cary conveyancing lawyer to apply to be on the conveyancing panel.
I own a freehold premises in Castle Cary but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Castle Cary and has limited impact for conveyancing in Castle Cary 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 many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
How does conveyancing in Castle Cary differ for newly converted properties?
Most buyers of new build property in Castle Cary approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is constructed. This is because developers in Castle Cary usually buy 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 property lawyers 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 Castle Cary or who has acted in the same development.
I am looking for a leasehold apartment up to £305k and found one close by in Castle Cary I like with a park and station nearby, the downside is that it's only got 51 years on the lease. There is not much else in Castle Cary suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the remaining unexpired lease term will be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 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 and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
Is there anything unique about your site and other online quote calculators for conveyancing in Castle Cary?
At this site receive a conveyancing quote from a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Castle Cary. Unlike many estate agents and brokerage sites we are not in the business of charging firms a commission if you choose them for your conveyancing in Castle Cary
We are soon to purchasing a property in Castle Cary. Conveyancing is not complete but we wish to have our transaction price confidential from the likes of Nestoria. How could this be achieved ?
HMLR as a matter of law bound to specify price sold data on the official title for domestic properties countrywide which includes homes in Castle Cary. The Title Register is an open document, so HM Land Registry would be breaching their statutory obligations excluded specific properties such as your one in Castle Cary.
You can ask HM Land Registry to withhold the amount paid data yet the answer will be a No.