I am the registered owner of a freehold premises in Cirencester but still pay rent, why is this and what is this?
It is rare for properties in Cirencester and has limited impact for conveyancing in Cirencester 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 new 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 in 2037 will be dispensed with completely.
I have a decision in principle. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would prefer to use a high street conveyancing solicitor in Cirencester?
Do check but the chances are that appoint one of their panel lawyers should you want the "fee-free" incentive. Call the bank to check if they offer you a monetary alternative. Some banks have previously offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor near Cirencester.
There are plenty of conveyancing solicitors in Cirencester but how do I know who I should use?
Do not opt for the cheapest Cirencester conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
We previously chose conveyancing lawyers locally in Cirencester on the Clydesdale solicitor approved list. They are now charging me an additional sum for dealing with the Clydesdale mortgage. Is this a supplemental conveyancing fee specified by Clydesdale?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your property lawyer can levy a fee for this. This charge is not set by Clydesdale but by your Cirencester conveyancing practitioner. Numerous firms on the Clydesdale panel will levy ’dealing with mortgage’ fee and others do not.
The mortgage over my property is with Skipton for my property in Cirencester. Conveyancing has been completed 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?
You must advise Skipton in advance of renting your property as this is likely to be a breach of Skipton’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. It should not be necessary to do this via a Skipton conveyancing panel firm.
I am downsizing from our home in Cirencester and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. Any local lawyer would know this is not the case. It does beg the question why the purchasers instructed a factory type conveyancing practice rather than a conveyancing solicitor in Cirencester. Having lived in Cirencester for many years we know of no issue. Should we contact our local Authority to get confirmation need.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I'm buying a new build house in Cirencester with the aid of help to buy. The builders refused to move on the amount so I negotiated 6k of extras instead. The sale representative advised me not inform my lawyer about the deal as it will adversely affect my loan with the bank. Should I keep quiet?.
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 need to find a conveyancing solicitor for freehold conveyancing in Cirencester. I've chance upon a site which appears to be the perfect solution If it is possible to get all this stuff completed via phone that would be ideal. Do I need to be concerned? 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?