I am the registered owner of a freehold residence in Hethersett yet charged rent, why is this and what is this?
It is rare for properties in Hethersett and has limited impact for conveyancing in Hethersett 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 generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel conveyancer as I would much rather instruct a high street conveyancing solicitor in Hethersett?
You should check but the the probability is that appoint one of their panel lawyers should you accept the "fee-free" incentive. Contact the mortgage company and see if they offer you a monetary alternative. Some banks have previously offered a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Hethersett.
I need some expedited conveyancing in Hethersett as I am faced with pressure to complete in less than 2 weeks. Fortunately I do not require a mortgage. Is it possible to escape the need for conveyancing searches to save fees and time?
If.Given you are are a mortgage free purchaser you are at free not to have searches carried out although no conveyancer would recommend that you don't. With lots of history conveyancing in Hethersett the following are examples of issues that can crop up and adversely impact future mortgageability: Enforcement Actions, Overdue Fees, Overdue Grants, Railway Schemes,...
I have a semi-detached Edwardian house in Hethersett. Conveyancing lawyer acted for me and Bank of Scotland. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hethersett and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing lawyer who conducted the conveyancing.
I am buying a new build house in Hethersett with the aid of help to buy. The builders refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The estate agent told me not disclose to my conveyancer about this extras as it will impact my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 on the look out for a flat up to £235,500 and found one close by in Hethersett I like with amenity areas and station nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Hethersett in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the shortness of the lease will be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.