I purchased a freehold residence in Herefordshire but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Herefordshire and has limited impact for conveyancing in Herefordshire 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
My property lawyer in Herefordshire is not listed on the Chelsea Building Society Approved Panel. Is it possible for me to use my prefered solicitor even though they are not on the Chelsea Building Society approved list?
The limited options available to you here include:
- Carry on with your preferred Herefordshire solicitors but Chelsea Building Society will need to instruct a conveyancer on their list of acceptable firms. This will inevitably rack up the overall legal charges and result in frustration.
- Choose a new lawyer to to deal with the purchase, obviously checking they are Chelsea Building Society approved.
- Try to convince your Chelsea Building Society based solicitor to try to join the Chelsea Building Society panel
We have a mortgage agreed in principle with UBS. Herefordshire conveyancing solicitors have been appointed. How long does it take for UBS to issue the offer to the conveyancing practitioner?
Some lenders take longer than others. Have UBS done the valuation? Have you advised UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have instructed a Herefordshire property lawyer having checked that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Herefordshire postcode. As you are getting a mortgage with Virgin Money, you could contact them to see if they have a list of approved surveyors in Herefordshire.
Our sealed bid on a property in Herefordshire has been agreed to, but there is a chain. The vendors have placed an offer on somewhere, but it’s not yet agreed to, and have viewings of other flats booked. I have instructed a high street conveyancing solicitor in Herefordshire. What do I do now? When do I get the mortgage application with Co-operative started?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of one thousand pounds, then valuation, Herefordshire conveyancing search charges, etc). The first course of action is to check that your conveyancer is on the Co-operative conveyancing panel. As to the next stages this very much dictated by the uniqueness of your case, attraction to the property and on the state of the market. In a rising market the majority of home buyers would apply for a home loan with Co-operative and pay for the valuation and only if it was satisfactory would they request their conveyancer to move forward with the conveyancing in Herefordshire.
What can a local search reveal concerning the property we're buying in Herefordshire?
Herefordshire conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company for instance Searchflow The local search is essential in every Herefordshire conveyancing purchase; that is if you don’t want any nasty surprises after you move into your property. The search should provide data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
It has been four months since my purchase conveyancing in Herefordshire concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
There are a lot of houses in Herefordshire on unadopted roads. My wife and I are acquiring such a property. Are there any benefits to buying a property on a private road?
Herefordshire conveyancing firms will be familiar with dealing houseson unadopted roads. The conveyancer should investigate Land Registry data to find any rights or liabilities. In many cases there is a residents association that owners make annual contributions for the upkeep of the road. Where there is one, the road will likely be maintained and appear nicer than publicly adopted.