I am expecting a mortgage offer from Nat West. I would like to retain the legal services of a Licensed Conveyancer in Radcliffe. Does the Nat West Conveyancing panel allow for Licensed Conveyancers?
The Nat West conveyancing panel is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I own a freehold residence in Radcliffe but still pay rent, why is this and what is this?
It’s unusual for properties in Radcliffe and has limited impact for conveyancing in Radcliffe 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 many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I happen to be the only beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Radcliffe. Conveyancing formalities meant that the Land Registry date was in July. I want to move. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership will be considered the same way as though I had purchased the house in July. Will no one buy the property for half a year?
The CML handbook mandates conveyancers 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 sensible a view mortgage companies take of it, depend on the mortgage company as this clause chiefly exists to identify the purchase and immediately sell or the quick reselling of properties.
Is it the case that all Radcliffe solicitors on the Skipton conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Skipton conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Some mortgage companies do list licenced conveyancers on their panel in which case such practice would be overseen by the CLC.
Two weeks ago we had a mortgage agreed in principle with Santander. Radcliffe conveyancing lawyers were appointed. What is the average time that one could expect to receive a mortgage offer from Santander?
There is no definitive answer here. Have Santander done the valuation? Have you informed Santander as to your lawyers' details and checked that your lawyers are on the Santander conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Radcliffe is the location of the property. Can you offer any opinion?
Flying freeholds in Radcliffe are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Radcliffe you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Radcliffe may decide 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 premises.
Hoping to buy a property located in Radcliffe and I am already nervous. I couldn't find anything specific about Radcliffe. Conveyancing will be needed in due course but do you know about the Radcliffe area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Radcliffe. In the meantime here are some basic statistics that we found
I am a negotiator for a long established estate agent office in Radcliffe where we have experienced a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Radcliffe conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Radcliffe Leasehold Conveyancing - Sample of Queries before buying
-
What prohibitions exist in the Radcliffe Lease? Are any of leasehold owners in arrears of their service charge liability? What is the yearly maintenance fee and ground rent?