I purchased a freehold premises in Henbury but nevertheless charged rent, why is this and what is this?
It is rare for properties in Henbury and has limited impact for conveyancing in Henbury 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 generation of fresh rentcharges post 1977.
Previous 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 extinguished.
I am selling my house in Henbury. Will the solicitor have to be on the TSB conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the TSB conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
Last month we had a mortgage agreed in principle with Virgin Money. Henbury conveyancing lawyers were instructed. How long does it take for Virgin Money to send the offer to the property lawyer?
Some lenders take longer than others. Have Virgin Money completed the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We expect to receive a DIP from Virgin Money this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Virgin Money recommend any Henbury solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Henbury solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
My fiancee and I are spending time looking at houses in Henbury and I am now considering a potential offer. Is it too early to have a solicitor in place? I am planning to take a home loan with RBS.
It would be sensible to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are seeking a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
I need some expedited conveyancing in Henbury as I am faced with a deadline to complete in less than 3 weeks. A mortgage is not required. Can I decline from having conveyancing searches to save fees and time?
As you are not obtaining a home loan you are at liberty not to have searches conducted although no solicitor would advise that you don't. With plenty of history conveyancing in Henbury the following are examples of issues that can arise and therefore affect the marketability of the property: Refused Planning Applications, Overdue Charges, Outstanding Grants, Railway Schemes,...
I'm buying a new build house in Henbury with the aid of help to buy. The sellers refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not reveal to my conveyancer about the extras as it will put at risk my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been recommended a conveyancing solicitor in Henbury. I I would like to check if they are on the bank's conveyancing panel. Could you or the lender confirm if they are on the panel?
You should call your solicitor to enquire if they are on the bank's panel. If that does not help get in touch with us and we can make some checks for you. Should the firm not be on the bank panel we can certainly arrange a reputable conveyancing solicitor in Henbury on the panel for your mortgage company.