I am the registered owner of a freehold property in Gomersal yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Gomersal and has limited impact for conveyancing in Gomersal 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 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 is to be extinguished.
I am thinking of mortgaging my property in Gomersal, does my lawyer have to be on the Bank of Ireland Solicitor panel?
In theory, you could use a solicitor that is not on the Bank of Ireland conveyancing panel, but Bank of Ireland would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Should my solicitor be asking questions concerning flooding during the conveyancing in Gomersal.
The risk of flooding is if increasing concern for solicitors dealing with homes in Gomersal. Plenty of people will purchase a property in Gomersal, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to give advice on flood risk, but there are a number of checks that may be undertaken by the buyer or by their conveyancers which can figure out the risks in Gomersal. The conventional set of property information forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual question of the vendor to find out whether the property has ever been flooded. In the event that flooding has previously occurred which is not notified by the seller, then a purchaser may issue a legal claim for losses as a result of such an inaccurate reply. The purchaser’s lawyers will also conduct an environmental report. This should indicate whether there is any known flood risk. If so, additional inquiries will need to be conducted.
I decided to have a survey done on a house in Gomersal in advance of retaining solicitors. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some lenders will not give a mortgage on this type of premises.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Gomersal. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Gomersal to see if the conveyancing costs will increase in light of this.
Do I need to be wary that brokers that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a High Street Gomersal conveyancing company?
As is the case with many professional services, often input from connections can be worth their weight in gold. Yet there are numerous parties with a keen interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies may recommend lawyers to use. On occasion the solicitors might be known to one of the organisations as one of the best in their field, but occasionally there exists a commercial relationship behind the recommendation. You have the discretion to choose your preferred conveyancer. You need to be aware that many lenders specify a panel list of solicitors you are obliged to use for the lender aspect of your home move.
My husband and I have recently had an offer accepted on a apartment and had an appointment on Friday with Leeds Building Society for the mortgage. They have informed us that when it comes to appointing a property lawyer that if they are not on their approved list of conveyancing practitioners then we will incur an additional fee of £200. This is because they will then have to select a conveyancer to act on their behalf in addition to the one we appoint for ourselves and we will be on the hook for their invoice. I have requested Leeds Building Society to send me with a list so I can request quotes only from their approved solicitors but was told that I need to check with each individual lawyer to see if they are on the panel. Is there a simple way of finding out who is on a lender panel?
You should ask Leeds Building Society what their criteria for joining their panel is for a solicitor.Then ask the property lawyer of your choice whether they fit that criteria and have they acted on mortgages for Leeds Building Society historically. Where the answer to those is yes, then just clarify this with Leeds Building Society. Alternatively please utilise our search tool and we should be able to locate a conveyancer in Gomersal on the approved list for Leeds Building Society.