I own a freehold residence in Hungerford but nevertheless pay rent, why is this and what is this?
It is rare for properties in Hungerford and has limited impact for conveyancing in Hungerford 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 creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I am thinking of mortgaging my flat in Hungerford, does my lawyer need to be on the RBS Conveyancing panel?
There is nothing to stop you using your solicitor, but RBS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
A colleague recommended that if I am purchasing in Hungerford I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes included in the estimate for your Hungerford conveyancing searches. It is a large report of more than thirty pages, listing and detailing significant information about Hungerford around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Hungerford Education with plans and statistics, Local Amenities and other useful information regarding Hungerford.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a quick, chain free conveyancing. Hungerford is the location of the property. Can you offer any guidance?
Flying freeholds in Hungerford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hungerford you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hungerford may decide 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 residence.
My partner has urged me to instruct his conveyancing solicitors in Hungerford. Do I take his recommendation?
No doubt the best way to choose a conveyancing practitioner is to get feedback from friends or relatives who have actually experience in using the firm you're considering.
How easy is it to change a solicitor as I need to find a Hungerford based one who is on the lender conveyancing panel. Is it practical to instruct different lawyers?
In the event that you have not formally instructed a conveyancer to start work and at this stage simply received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Hungerford that you're thinking of instructing.