I purchased a freehold residence in Leigh yet pay rent, why is this and what is this?
It’s unusual for properties in Leigh and has limited impact for conveyancing in Leigh 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Please explain the implications if my lawyer’s firm is suspended from the HSBC Conveyancing panel ahead of completing my conveyancing in Leigh?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Please help - my lawyer advises that defective lease insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Leigh?
The right level of defective lease indemnity insurance depends on who your lender is. It would differ for example between Accord Mortgages Ltd and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
When it comes to lenders such as Lloyds, do Leigh conveyancing practitioners face a yearly amount to be on the list of approved solicitors?
We are unaware of any bank fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I had a mortgage agreed in principle with HSBC. Leigh conveyancing practitioners have been selected. How long does it take for HSBC to issue the offer to the conveyancing practitioner?
There is no definitive answer here. Have HSBC done the valuation? Have you advised HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Leigh?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Leigh. 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…’
Taking into account that I am about to part with £400,000 on a property in Leigh I would like to have a conversation with the lawyer about myhouse move prior to instructing the firm. Is this something that you can arrange?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you speaking to the conveyancer due to be carrying out your property ownership legalities in Leigh.There is no ‘factory style conveyancing’ - every client is unique person, not a case reference. The practices that we put you in touch with believe that the fees you are provided with for your conveyancing in Leigh should be the figure that you are charged.
My father-in-law has encouraged me to instruct his conveyancers in Leigh. Do I follow his recommendation?
No doubt it’s preferable to choose a conveyancing lawyer is to have feedback from friends or family who have experience in using the conveyancer that you are are thinking of instructing.