I purchased a freehold premises in Lynmouth but still charged rent, why is this and what is this?
It’s unusual for properties in Lynmouth and has limited impact for conveyancing in Lynmouth 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 establishment of new 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 in 2037 will be extinguished.
I have been referred to a conveyancing solicitor in Lynmouth. I I would like to check if they are accepted on the Skipton Building Society conveyancing panel. Could you advise?
You should contact your solicitor and ask them whether they can act for the lender. Alternatively please call Skipton Building Society who may be able to help.
I am helping my sister sell her flat in Lynmouth. Will the conveyancer arrange the energy performance certificate or it is for the owner to see to?
After the abolition of HIPs, energy assessments remained a mandatory element of selling a property. An energy assessment needs to be to hand in advance of the property being advertised. It is not something that solicitors normally organise. Where you are using a Lynmouth conveyancing lawyer they might be willing to arrange EPC’s given their contacts with long established Lynmouth accredited person
is it true that all Lynmouth solicitor firms on the Bank of Ireland conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Bank of Ireland approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Many banks do list licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
We were going to get a AIP from Nottingham this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nottingham recommend any Lynmouth solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Lynmouth solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
I am buying my first flat in Lynmouth with a mortgage from Godiva Mortgages Ltd. The developers refused to budge the price so I negotiated five thousand pounds worth of extras instead. The estate agent told me not disclose to my lawyer about the deal as it could affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Due to the encouragement of my in-laws I had a survey completed on a property in Lynmouth in advance of appointing lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some mortgage companies may refuse to grant a loan on a flying freehold house.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. If you contact us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Lynmouth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Lynmouth to see if the conveyancing costs will increase in light of this.
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At this site receive a conveyancing quote from a Solicitor or Licensed Conveyancer that has a full understanding of the nuances for your conveyancing in Lynmouth. As opposed to estate agents and brokerage sites we are not in the business of charging firms a commission if you choose them for your home move in Lynmouth