I own a freehold house in Moorgate but still invoiced for rent, why is this and what is this?
It is rare for properties in Moorgate and has limited impact for conveyancing in Moorgate 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 many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Me and my partner are buying a apartment in Moorgate. It might be a silly question but how we can trust a lawyer? At some point we have to deposit money into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am the single beneficiary of my late grandmother’s estate with all property in now in my sole name, including the house in Moorgate. The Moorgate property was put into my name in March. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership may be considered the same way as if I'd bought the house in March. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How sensible a view mortgage companies take of it, depend on the lender as this requirement is primarily there to identify subsales or the flipping of properties.
I am expecting a DIP from Santander this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Santander recommend any Moorgate solicitors on the Santander conveyancing panel, or is it better to go independently?
You will need to appoint Moorgate solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
I have been told that property searches are the primary reason for stalling in Moorgate conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Searches are not likely to be the root cause of slowing down conveyancing in Moorgate.
I'm buying my first flat in Moorgate with a loan from Barclays Direct. The builders would not reduce the price so I negotiated 6k of additionals instead. The house builders rep advised me not reveal to my lawyer about this deal as it would jeopardize 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 guidance of my in-laws I had a survey completed on a property in Moorgate in advance of retaining solicitors. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some mortgage companies may not grant a mortgage on this type of house.
It depends who your proposed lender is. HSBC has different instructions for example to Nationwide. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Moorgate. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Moorgate to see if the conveyancing will be more expensive.
I am thinking of appointing a conveyancing lawyer in Moorgate for my purchase. Is there any facility to review a firm’s record with the profession’s regulator?
Anyone can read published Solicitor Regulator Association (SRA) decisions arising from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. To find details Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training purposes.