AssumingI was to buy a simple residential homein Cotgrave for cash and dispense with a survey and no conveyancing searches how much could I expect to to save on my conveyancing in Cotgrave?
Any savings you would make will be isolated to the Cotgrave conveyancing searches. Your lawyer still got to do everything else - money laundering, correspond with the vendors conveyancer, stamp duty submission, register the ownership etc. You might save a bit for them not needing to register a charge but it will not be meaningful.
I am the registered owner of a freehold residence in Cotgrave but nevertheless charged rent, why is this and what is this?
It is rare for properties in Cotgrave and has limited impact for conveyancing in Cotgrave 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 generation 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 after 2037 is to be dispensed with completely.
Please explain the implications if my solicitor is suspended from the Kent Reliance Solicitor panel ahead of completing my conveyancing in Cotgrave?
First, this is very unlikely to happen. 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 am due to move property in February. Should my conveyancing solicitor call the removal company on the completion day. As an aside, can you recommend a removal company in Cotgrave. Conveyancing firm was chosen before I stumbled across your page.
On the afternoon of completion you will need to pick up the keys from the selling agent however this can only be done once the sellers conveyancers inform the agent that the monies to complete are in and the keys can be handed over. After that you will need to inform the removal men that they can start moving you in. As a matter of policy we do not suggest a particular removal organisation but can help you find a residential property solicitor in Cotgrave or a lawyer that specialises in conveyancing in Cotgrave.
My solicitor has informed me that defective lease insurance is required on my purchase. What is the level of cover for Cotgrave conveyancing?
The appropriate level of defective lease indemnity insurance should be dictated by who who your lender is. It would differ for example between Barclays and Skipton Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
I'm the single recipient of my late father’s estate with all property in now in my sole name, including the house in Cotgrave. The Cotgrave property was put into my name in November. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship could be treated the same way as though I had purchased the property in November. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. many mortgage companies would take a pragmatic view as this clause principally exists to identify subsales or the wholesaling and assigning of properties.
I note that there are debates on Chancel Insurance on online forums. Do I require this when buying a property in Cotgrave? or I am told that there is a law dating back centuries that means some homeowners living in a parish church boundary may be liable to pay for maintenance towards the chancel in proximity to the church. Is this suitable for conveyancing in Cotgrave?
Unless a prior purchase of the premises took place after 12 October 2013 you can take it that conveyancing practitioners handling conveyancing in Cotgrave to remain recommending a chancel search and or chancel repair liability policy.
I have been pointed in your direction by numerous selling agents in Cotgrave to choose a property lawyer using your seach tool. What’s the financial advantage for Estate Agents to market your services ahead of alternative conveyancing organisations?
We don’t give any financial incentive for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission because a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.