Recently contacted my conveyancing solicitor in Hollywood who acted for me 18 months ago asking for a conveyancing estimate based on the same type of house move (a leasehold premises and a freehold property) of similar values with a loan from Nationwide Building Society. It looks as though am now being charged twice the amount. Am I right to be tempted to shop around for a cheaper internet conveyancer?
The costs illustration is slightly on the steep side. If you are willing to expend time comparing charges you could get the conveyancing a bit cheaper by as much as £125. That being said, if you were happy with the assistance the firm offered you mightcome to regret choosing an a cheaper lawyer. Don't forget to check the conveyancer can also act for Nationwide Building Society. You can utilise our search tool to find a Hollywood conveyancing firm on the Nationwide Building Society conveyancing panel, which can often include conveyancing solicitors in Hollywood.
I purchased a freehold house in Hollywood but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Hollywood and has limited impact for conveyancing in Hollywood 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 from 1977 onwards.
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 dispensed with completely.
Various web forums that I have frequented warn that are the primary reason for obstruction in Hollywood house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in Hollywood.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Hollywood?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Hollywood. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying my first flat in Hollywood with a loan from Coventry Building Society. The developers would not budge the price so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not disclose to my lawyer about this side-deal as it will affect my mortgage with Coventry Building Society. 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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a simple, no chain conveyancing. Hollywood is the location of the property. Can you offer any guidance?
Flying freeholds in Hollywood are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hollywood you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hollywood may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.