I own a freehold house in Princes Risborough but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Princes Risborough and has limited impact for conveyancing in Princes Risborough 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 fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
We are aiming to move home in January. Will my conveyancing solicitor update the removal company on the day of completion. On a separate note, can you recommend a removal company in Princes Risborough. Conveyancing solicitor was chosen prior to coming across your site.
On the afternoon of completion you will need to pick up the keys from the selling agent but this should only be done after the vendors conveyancers advise the agent that the monies to complete are in and the keys can be collected. You should tell the removal company that they can start moving you in. As a matter of policy we do not recommend a particular removal organisation but can help you find a conveyancing in Princes Risborough or a lawyer with expertise in conveyancing in Princes Risborough.
I'm the only recipient of my late mum's will and I have everything in my name now, including the my former home in Princes Risborough. Conveyancing formalities meant that the Land Registry date was in October. I now wish to sell up. I understand that there is a CML 6 month 'rule', meaning my property ownership will be considered the same way as if I'd bought the property in October. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How practical a view lenders take of it, depend on the bank as this requirement principally exists to capture subsales or the wholesaling and assigning of properties.
I'm spending time viewing apartments in Princes Risborough and I am now considering a potential offer. Should I already have a conveyancing practitioner appointed at this point? I will be getting a mortgage with Nationwide.
It would be advisable to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. As you are seeking a mortgage with Nationwide, make sure you remember to check that your lawyer is on the Nationwide conveyancing panel.
Are there restrictive covenants that are commonly picked up during conveyancing in Princes Risborough?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Princes Risborough. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Princes Risborough differ for newly converted properties?
Most buyers of new build property in Princes Risborough approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is completed. This is because house builders in Princes Risborough typically buy 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 property lawyers 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 accustomed to new build conveyancing in Princes Risborough or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Princes Risborough is where the house is located. What do you suggest?
Flying freeholds in Princes Risborough are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Princes Risborough you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Princes Risborough may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
We're novice buyers - had an offer accepted, yet the selling agent informed us that the vendor will only proceed if we appoint their chosen conveyancers as they are insisting on a ‘quick sale’. We would rather use a family solicitor accustomed to conveyancing in Princes Risborough
We suspect that the seller is not behind this ultimatum. If they desire ‘a quick sale', turning down a genuine purchaser is counter productive. Contact the vendors directly and make the point that (a)you are serious purchasers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you will continue to use your preferred Princes Risborough conveyancing firm - not the ones that will earn their estate agent a referral fee or achieve conveyancing thresholds pre-set by senior management.