I purchased a freehold house in Par yet pay rent, why is this and what is this?
It’s unusual for properties in Par and has limited impact for conveyancing in Par 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 creation of fresh rentcharges post 1977.
Previous 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 dispensed with completely.
We're in Par, FTBs buying with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Par. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Par
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are surveyor prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I'm converting the mortgage on my current property to a buy to let loan with Bank of Scotland and I will use the ballance of the raised equity as a down payment on further house. The area we are interested in is Par. Will your lawyers be able to act for both sets of banks and link together the transactions?
Do use our search tool on this page to check that the lawyers are approved by both mortgage companies. Assuming that they are your conveyancer should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you conveyancer and make clear your desired outcome and requirements.
We are four weeks into a residential purchase having been directed to conveyancers by the local agent to execute conveyancing in Par. I am am extremely dissatisfied with the quality of service. Could you help me find new conveyancers?
They would have to be very bad in order to consider changing them. Has the mortgage been issued? If so you need to inform them of the new conveyancer and ensure the loan are re-sent. Your new conveyancer should be on the lenders panel to avoid added charges and frustration. That should be your starting point. The find a solicitor tool will help you find a bank approved solicitor for your home move in Par
Online reading suggests that Par solicitors are more costly than Par conveyancers in Par to use when purchasing a property. So is it better if I use a conveyancer or a solicitor where I am buying for my home move in Par.
When it comes to conveyancing in Par the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.