I purchased a freehold premises in Kings Norton yet pay rent, why is this and what is this?
It is rare for properties in Kings Norton and has limited impact for conveyancing in Kings Norton 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 establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Is it necessary during the course of the conveyancing process to pop into the offices of the solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Kings Norton so that I can pop in to their offices if required.
Whereas this was necessary ten years ago, most lenders no longer need their conveyancing panel lawyer to witness the mortgagors signature. It will still be necessary for you to supply ID documents and there are still manifest advantages to instructing a local practitioner, in your case a conveyancing solicitor in Kings Norton.
How does conveyancing in Kings Norton differ for new build properties?
Most buyers of new build residence in Kings Norton contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is completed. This is because developers in Kings Norton usually buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Kings Norton or who has acted in the same development.
Are there any apps to assist me to identify a Kings Norton law firm on the TSB conveyancing panel? I have a car and am happy to travel upto 20kilometers to meet the conveyancer.
Feel free to make use of the search on this website. Please select a lender and your location and you will see a number of Kings Norton conveyancing lawyers located nearest you. We have listed some Kings Norton conveyancing firms towards the end of this page and you can contact them to verify whether they are on the TSB approved list
I am a fortnight into a freehold purchase having been recommend to solicitors by the local agent to execute conveyancing in Kings Norton. I am am starting to be frustrated with the level of service. Could you help me find new conveyancers?
A lawyer would have to be very poor to suggest replacing them. Has the mortgage been issued? If so you must advise them of the new conveyancer and ensure the mortgage documents are re-issued. Your solicitor ideally needs to be on the banks approved list to avoid supplemental costs and complications. That should be your first question of the new solicitors. The find a solicitor tool can assist you in finding a lender approved lawyer for your conveyancing in Kings Norton
Is there a reason that Kings Norton conveyancing charges differ for leasehold and freehold properties?
When acquiring a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control