I own a freehold residence in Fowey but nevertheless charged rent, why is this and what is this?
It is rare for properties in Fowey and has limited impact for conveyancing in Fowey 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
My Solicitor in Fowey is not on the Coventry Building Society Solicitor Panel. Is it possible for me to use my family solicitor notwithstanding that they are not on the Coventry Building Society panel of approved conveyancing solicitors?
Your options are as follows:
- Carry on with your existing Fowey lawyers but Coventry Building Society will need to use a conveyancer on their panel. This will result in additional overall conveyancing fees as well as result in delays.
- Choose a new solicitor to to deal with the purchase, not forgetting to check they are Convince your lawyer to do everything within their powers to join the Coventry Building Society conveyancing panel
I am looking for a flat up to £305k and found one close by in Fowey I like with open areas and transport links nearby, the downside is that it only has 51 years on the lease. I can't really find anything else in Fowey suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan the shortness of the lease will likely be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
I am downsizing from my house. My past lawyers have shut. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Fowey if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Fowey. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
My husband and I are 3 weeks into a leasehold purchase having been referred to solicitors by the local agent to execute conveyancing in Fowey. I am am extremely disappointed with the level of service. Can you you assist me in finding new lawyers?
They would need to be really poor in order to consider diss instructing them. Has your mortgage offer been issued? In the event that it has you will need to advise them of the new contact details and ensure the mortgage documents are re-sent. Your solicitor ideally needs to be on the lenders panel to avoid supplemental fees and complications. So that should be your first question of the new lawyers. Our search tool will assist you in finding a bank approved conveyancer for your home move in Fowey
Builders have put forward a conveyancing practitioner and I've received a quote from them. They are nearly two hundred pounds less expensive than my preferred Fowey lawyer. What's the catch?
Developers frequently have lists of solicitors who are quick and who know the seller’s paperwork and lawyer. Plenty of developers offer an incentive to use a preferred conveyancing practitioner for this reason, any increased charges can be avoided and a developer will not put forward a conveyancing warehouse and run the risk of having the conveyancing delayed when they demand an exchange in 28 days. A counter-argument for not agreeing to use the suggested lawyer is that they may prove reluctant to fight for your interests at the risk of upsetting the developer. If you worry that this may be the situation you should stick with your high street Fowey solicitor.