I purchased a freehold property in Kirkby but still pay rent, why is this and what is this?
It’s unusual for properties in Kirkby and has limited impact for conveyancing in Kirkby 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 post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I require fast conveyancing in Kirkby as I am faced with pressure to sign on the dotted line in less than one month. Fortunately I do not require a mortgage. Can I avoid the conveyancing searches to save fees and time?
As you are are a cash purchaser you are at liberty not to have searches conducted although no conveyancer would recommend that you don't. Drawing on years of experience of conveyancing in Kirkby the following are examples of issues that can be revealed and therefore impact future mortgageability: Refused Planning Applications, Overdue Charges, Overdue Grants, Railway Schemes,...
I used Stirling Law a few years ago for my conveyancing in Kirkby. Now, I need my documents but the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Kirkby of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Kirkby differ for newly converted properties?
Most buyers of new build premises in Kirkby contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because new home sellers in Kirkby tend to purchase 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 used to new build conveyancing in Kirkby or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one close by in Kirkby I like with amenity areas and railway links nearby, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Kirkby suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
My father-in-law mentioned that when choosing a conveyancing firm they must be approved by your mortgage company. This is my first home move but I have an AIP with Nat West Bank and I already have a bricks and morter conveyancing solicitor in Kirkby on standby. Can HSBC need an approved solicitor to be instructed? If so, where do I find that list for my conveyancing in Kirkby?
You should use a solicitor that is on the HSBC panel. Just ring your preferred Kirkby conveyancing solicitor to check if they are on the HSBC panel. If they are not on the panel you have a number of options open to you here:
- Carry on with your existing Kirkby lawyer but HSBC will need to use a conveyancing practitioner on their conveyancing panel. This will result in additional fees and potential frustration.
- Appoint a new solicitor to act in the purchase, ensuring that they are on the HSBC conveyancing panel.
- Convince your solicitor to pull out all the stops to get listed on the HSBC conveyancing panel.