I purchased a freehold residence in Market Harborough yet charged rent, why is this and what is this?
It’s unusual for properties in Market Harborough and has limited impact for conveyancing in Market Harborough 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 post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I had intended to instruct a conveyancing solicitor in Market Harborough for our home move. Our financial adviser has since notified us that our mortgage lenders The Mortgage Works won't deal with them. Why is this not regarded as unfair competition?
Lenders on the whole imposes restrictions either the type or the amount of conveyancing practices on their panel. Typical examples of such criteria being that a law practice must have two or more partners. As well as restricting the type of firm, some have limited the amount of solicitor practices they use to represent them. You should note that The Mortgage Works have no responsibility for the quality of advice provided by any member of The Mortgage Works Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels a few years ago even though there are mixed views concerning the level of solicitor engagement in some of that fraud. Data from the Land Registry reveal that hundreds of law firms, including some in or near Market Harborough only perform a couple conveyances per annum.
What can a local search reveal concerning the property my wife and I buying in Market Harborough?
Market Harborough conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company for instance Onsearch The local search plays an important role in most Market Harborough conveyancing purchase; that is if you don’t want any nasty surprises after you move into your new home. The search should supply information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
I have justbeen informed that Arc property Solicitors have closed. They conducted my conveyancing in Market Harborough for a purchase of a leasehold apartment 9 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The easiest method to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Market Harborough conveyancing specialists.
I decided to have a survey completed on a property in Market Harborough before appointing lawyers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies tend not give a loan on this type of premises.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Market Harborough. Conveyancing will be smoother if you use a solicitor in Market Harborough especially if they are acquainted with such properties in Market Harborough.
I need to instruct a conveyancing solicitor in Market Harborough for my house move. Is there any facility to see a firm’s record with the legal regulator?
Anyone may read published Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Go to Check a solicitor's record. To find records Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA could monitor telephone calls for training reasons.