I am the registered owner of a freehold property in Colyers but still charged rent, why is this and what is this?
It is rare for properties in Colyers and has limited impact for conveyancing in Colyers 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 fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
My bid for a property was accepted at auction in Colyers. Conveyancing is necessary. What is next?
Now that you are legally committed yourself to purchase you will need to instruct a conveyancing lawyer quickly as you are facing a fast approaching a drop dead date to complete the purchase. An auction property will have an associated auction pack. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the conveyancing papers should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You need to pass this on to the conveyancer instructed by you as soon as possible. Do make sure that you have funds in place to complete the transaction on the set completion date.
We have agreed to purchase a house in Colyers. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Yorkshire BS be concerned?
Given that you are obtaining a mortgage with Yorkshire BS your lawyer must follow the conveyancing instructions outlined in Part two of UK Finance Lenders’ Handbook for Yorkshire BS. The Council of Mortgage Lenders’ Handbook stipulates minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Yorkshire BS where a lease does not meet these provisions. The specifications relate to the installation of panels on properties nationwide and is not limited to Colyers.
I can not work out if my lender requires a lease extension. I have called into my local Colyers building society branch on numerous occasions and was told it wasn't a problem and they will lend. My Colyers conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. Who do I believe?
The property lawyer must comply with the Council of Mortgage Lenders’ Handbook Part 2 provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Have completed on a a semi-detached house in Colyers , how long should it take for the Land Registry to record the transfer to my name? My Colyers conveyancing solicitor has been very slow, so I want to be certain the land registry aspects are addressed.
There is nothing unique about conveyancing in Colyers registration formalities. As opposed to being determined by geographic area, timescales can vary according to the party submitting the application, whether it is in order and whether the Land registry communicate with any other persons or bodies. Currently roughly 80% of submission are fully dealt with in less than three weeks but occasionally there can be protracted hold-ups. Historically registration takes place once the new owner has moved in to the property so registration formalities is not usually an essential issue yet where there is a degree of urgency associated with the registration then you or your conveyancer should speak with the land registry and explain the circumstances.
How does conveyancing in Colyers differ for newly converted properties?
Most buyers of new build or newly converted property in Colyers contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is built. This is because new home sellers in Colyers tend to acquire 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 conveyancers 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 Colyers or who has acted in the same development.
Is it best to go with a Colyers conveyancing solicitor in close proximity to the house I am hoping to buy? I have an old university friend who can handle the conveyancing but his firm is located 200kilometers away.
The primary upside of using a local Colyers conveyancing practice is that you can drop in to execute documents, hand in your identification documents and apply pressure on them if necessary. Having local Colyers know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and in the main were impressed that should trump using an unfamiliar Colyers conveyancing solicitor just because they are based in the area.
Can you please explain what my options are where my Colyers conveyancing searches shows adverse entries?
Ordinarily, most concerns exposed in Colyers conveyancing search results can be addressed ahead of completion or title insurance may be put on cover. It is important to remember that regardless of the fact that you intend on purchasing the property and might be willing to live with the search results, your mortgage lender may not, and when all said and done they have the final say.