I am the registered owner of a freehold premises in Cheadle but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Cheadle and has limited impact for conveyancing in Cheadle 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 establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Santander Conveyancing panel ahead of completing my conveyancing in Cheadle?
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 at a cost.
I'm the single recipient of my late mum's will and I have everything in my name alone, including the house in Cheadle. The Cheadle property was put into my name in July. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my proprietorship could be regarded the same way as though I had purchased the house in July. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. many banks would take a practical view as this clause is principally there to capture the purchase and immediately sell or the quick reselling of properties.
Does a directory service exist listing HSBC panel solicitors in Cheadle on the Council of Mortgage Lender’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings visible on the web. If you are in need of a Cheadle conveyancing practitioner on the HSBC please use our facility.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Cheadle solicitor - who is on the Co-operative conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Cheadle postcode. As you are getting a mortgage with Co-operative, you could contact them to see if they have a list of approved surveyors in Cheadle.
I am buying a new build house in Cheadle benefiting from help to buy. The builders refused to move on the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not to tell my solicitor about this side-deal as it may jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I was pointed in your direction by a few estate agents in Cheadle to choose a solicitor using your seach tool. Is there a financial advantage for Estate Agents to offer your services over and above alternative conveyancing organisations?
We don’t offer any commission for directing people our way. We thought it would be too underhand to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
I need to instruct a conveyancing solicitor for residential conveyancing in Cheadle. I've stumble upon a site which looks to be the perfect offering If there is a chance to get all the legals done via phone that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?