Some advice if I may. My Claydon conveyancer is informing me me that he has toapply for Claydon conveyancing searches becausethe firm are on the Lloydsapproved lawyer panel. These Claydon checks cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. As you are taking a home loan with a lender your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Claydon conveyancing searches.
I purchased a freehold house in Claydon but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Claydon and has limited impact for conveyancing in Claydon 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 generation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
The Claydon conveyancing firm that I recently instructed on my purchase in Claydon have without warning shut down. They were on acting for me because I had to have a lawyer on the RBS conveyancing panel and my previous Claydon lawyer was not. I wrote them a cheque for two hundred pounds in advance. What are my options?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the RBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
What can a local search tell me concerning the property we're buying in Claydon?
Claydon conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance Onsearch The local search is essential in every Claydon conveyancing purchase; as long as you don’t want any nasty surprises after you move into your property. The search will provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
I am looking for a leasehold apartment up to £235,500 and found one round the corner in Claydon I like with a park and station in the vicinity, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in Claydon suitable, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
Am I right to be suspicious that estate agents that I am dealing with are suggesting a factory type conveyancing firm rather than a High Street Claydon conveyancing firm?
As is the case with many service providers, often referrals from family and friends can be very helpful. Yet there are lots of players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all suggest lawyers to retain. Sometimes these lawyers might be known to one of the organisations as one of the best in their field, but sometimes there may be a financial incentive behind the recommendation. You have the discretion to appoint your own conveyancer. However, bear in mind that the majority of banks specify a panel list of lawyers you must use for the mortgage related work in your transaction.