I am the registered owner of a freehold premises in Essington but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Essington and has limited impact for conveyancing in Essington 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 many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
This question may be naive but I am unexperienced as FTB of a ground floor flat in Essington. Do I pick up the keys to the house on the completion date from my lawyer? If this is the case, I will find a local conveyancing solicitor in Essington?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's solicitors, and shortly after the monies have arrived, you will be able to pick up the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
I'm the single beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Essington. Conveyancing formalities meant that the Land Registry date was in October. I plan to dispose of the house. I do know about the CML six month 'rule', meaning my property ownership may be regarded the same way as though I had purchased the house in October. Do I have to wait 6 months to sell?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How sensible a view mortgage companies take of it, depend on the lender as this requirement chiefly exists to capture the purchase and immediately sell or the flipping of property.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Essington bank branch on numerous occasions and was informed it wasn't an issue and they would lend. My Essington conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. Who do I believe?
Provided that the property lawyer is on the lender panel, they must follow the Council of Mortgage Lenders’ Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
About to purchase a new build flat in Essington. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Essington
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Am I right to be suspicious by estate agents that I am dealing with are recommending an online conveyancing firm as opposed to a High Street Essington conveyancing company?
As with many professional services, often suggestions from relatives can be extremely useful or valuable. Nevertheless there are numerous players in a conveyancing matter; estate agents, financial adviser and lenders may recommend solicitors to retain. On occasion the solicitors might be known to one of the organisations as experts in their field, but occasionally there exists a commercial relationship behind the endorsement. You are at liberty to select your preferred conveyancer. Don't forget that some lenders specify a panel list of lawyers you have to use for the mortgage aspect of your conveyancing.
I am 17 days into a freehold purchase having been recommend to solicitors by the local agent to handle our conveyancing in Essington. We are not happy. Could you you assist me in finding new conveyancers?
A lawyer would need to be really bad in order to consider replacing them. Has your loan offer been generated? If so you will need to make them aware of the new lawyer and get the mortgage documents are re-sent. The conveyancer should be on the mortgage company approved list to avoid supplemental costs and complications. So that should be your starting point. The search tool will assist you in finding a lender approved lawyer for your home move in Essington
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the mortgage company conveyancing panel. My lawyer has said that they are on the bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the mortgage company conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the mortgage company solicitor panel.