I purchased a freehold premises in Nayland yet pay rent, why is this and what is this?
It is rare for properties in Nayland and has limited impact for conveyancing in Nayland 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 creation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
My husband and I are buying a newly converted flat in Nayland with a residential mortgage from Nottingham Building Society.We would like to retain our Nayland conveyancing solicitor but Nottingham Building Society advised that her practice is not on their approved list of member firms. It seems we have little choice but to instruct a Nottingham Building Society panel firm or retain our preferred solicitor and fork out for a Nottingham Building Society panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan offered to you is subject to its various provisions, one of which will be that conveyancers will be on the Nottingham Building Society approved list. in the past, most lenders had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Nottingham Building Society
Forgive me if this question is silly but I am new to the home moving as a first time buyer of a garden flat in Nayland. Do I collect the keys to the premises on completion from my solicitor? If this is the case, I will instruct a High Street conveyancing solicitor in Nayland?
On the day of completion you will not be required to attend the conveyancers office in Nayland. Your solicitors will transfer the completion advance to the owner’s solicitors, and shortly after the monies have arrived, you should be able to pick up the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
I am being told by my solicitor that lack of building regulations insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Nayland?
The right level of lack of building regulations indemnity insurance depends on who your lender is. It would differ for example between National Westminster Bank and Leeds Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
I recently had an offer accepted on a house in Nayland. My financial adviser suggested a conveyancing practitioner. I paid an upfront payment of £225. Soon after, the conveyancer contacted me to say that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My wife and I own a semi-detached Georgian property in Nayland. Conveyancing lawyer represented me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold with the matching address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Nayland and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing lawyer who conducted the conveyancing.
How does conveyancing in Nayland differ for new build properties?
Most buyers of new build premises in Nayland approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is built. This is because new home sellers in Nayland usually purchase the site, 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 conveyancers 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 Nayland or who has acted in the same development.
As co-executor for the will of my grandfather I am selling a house in Neath but I am based in Nayland. My lawyer (approximately 260 kilometers from meneeds me to sign a stat dec before the transaction finalising. Can you recommend a conveyancing practitioner in Nayland to attest and place their company stamp on the document?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are Nayland based