My Cullompton solicitor has uncovered an inconsistency when comparing the assumptions in the valuation report and what is in the legal papers for the property. My solicitor informs me that he is obliged to check that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s stance appropriate?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I purchased a freehold house in Cullompton yet invoiced for rent, why is this and what is this?
It is rare for properties in Cullompton and has limited impact for conveyancing in Cullompton 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 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.
I need some fast conveyancing in Cullompton as I have a deadline to complete in less than one month. Fortunately I do not need a mortgage. Can I escape the need for conveyancing searches to save money and time?
If.Given you are are a mortgage free buyer you have the choice not to have searches conducted although no law firm would recommend that you don't. With plenty of history conveyancing in Cullompton the following are instances of what can be revealed and therefore impact future saleability: Refused Planning Applications, Outstanding Charges, Overdue Grants, Railway Schemes,...
My wife and I have a 4 bedroom Edwardian property in Cullompton. Conveyancing practitioner represented me and Barclays Direct. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cullompton and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing lawyer who conducted the work.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a quick, no chain conveyancing. Cullompton is the location of the property. What do you suggest?
Flying freeholds in Cullompton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cullompton you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cullompton may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My husband and I are FTB’s - had an offer accepted, yet the agent told us that the seller will only proceed if we use their preferred lawyers as they are insisting on an ‘expedited deal’. We would rather use a high street solicitor accustomed to conveyancing in Cullompton
We suspect that the owner is not behind this ultimatum. If they want ‘a quick sale', alienating a genuine buyer is not the way to achieve this. Speak to the vendors direct and explain that (a)you are genuine purchasers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you will continue to instruct your preferred Cullompton conveyancing lawyers - not the ones that will earn the negotiator at the agency a commission or meet his conveyancing thresholds demanded by head office.