I am the registered owner of a freehold residence in North Shields but still pay rent, why is this and what is this?
It’s unusual for properties in North Shields and has limited impact for conveyancing in North Shields 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 establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
I have been referred to a conveyancing solicitor in North Shields. I I would like to check if they are accepted on the Bank of Ireland approved list of lawyers. Could you help?
You should call the lawyer and ask them if they are on the lender panel. Otherwise please get in touch with Bank of Ireland who may be able to help.
We are purchasing a property in North Shields. I might seem paranoid but how we can trust a conveyancer? At some point we will need to deposit funds into their account. What is the protection 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.
We previously selected conveyancing lawyers based in North Shields on the Leeds Building Society solicitor approved list. They are now charging me an additional fee for the legal aspects of the Leeds Building Society mortgage. Is this a supplemental conveyancing fee set by Leeds Building Society?
Provided it is contained in their Terms and Conditions or Quote then yes your lawyer may charge a fee for this. The charge is not set by Leeds Building Society but by your North Shields lawyer. Numerous firms on the Leeds Building Society panel will quote ’dealing with mortgage’ fee and others do not.
Our sealed bid on a property in North Shields has been agreed to, the vendors do however have a connected purchase. The owners have placed an offer on a flat, however it’s not been accepted yet, and are looking at other flats booked. I have selected a nearby conveyancing solicitor in North Shields. What should be my next step? When do I get the mortgage application with Principality going?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is in the region of one thousand pounds, then survey, North Shields conveyancing search costs, etc). First, you should ensure that your conveyancer is on the Principality approved list. Regarding the subsequent phase this very much depends on the specifics of your transaction, attraction to this property and on the state of the market. During a hot market some home buyers will apply for the mortgage with Principality and pay for the valuation and only if it was satisfactory would they pay their solicitor to press on with the conveyancing in North Shields.
I am buying my first flat in North Shields with the aid of help to buy. The builders refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not inform my conveyancer about this extras as it will adversely affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
As co-executor for the estate of my grandfather I am disposing of a house in Cardiff but I am based in North Shields. My lawyer (approximately 250 miles from merequires that I execute a statutory declaration ahead of completion. Could you suggest a conveyancing solicitor in North Shields to attest this legal document for me?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are North Shields based
My cousin is purchasing a leasehold flat in North Shields. He has received a fee estimate by the solicitor recommended by the estate agents and it came to £1300 . It was eight years ago since I sold and purchased a house and the bill was £450. Have costs really increased to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance North Shields searches, land registry fees, etc)