I am the registered owner of a freehold house in Romney yet pay rent, why is this and what is this?
It’s unusual for properties in Romney and has limited impact for conveyancing in Romney 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 establishment of fresh 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 in 2037 is to be dispensed with completely.
Does a directory service exist listing Virgin Money panel conveyancers in Romney on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. Very few banks make their panel listings visible online. Where you are in need of a Romney solicitor on the Virgin Money please use our facility.
My partner and I have organised the release of further funds on our mortgage from RBS as we wish to conduct a loft conversion to our house in Romney. Are we obliged to select a high street Romney solicitor on the RBS conveyancing panel to deal with the paperwork?
RBS don't usually require a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS panel.
TSB have agreed my home loan in principle, my offer on a house in Romney has been agreed to, now what?
The estate agent will want to know who your solicitors are (ensure that the conveyancers are on the lender’s panel). Contact TSB or your broker and finalise any relevant paperwork. TSB will appoint a valuer who will get in touch with the estate agent or vendor to arrange a time for the valuation to occur. Once carried out (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. TSB will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Romney.
I have been told that property searches are a common cause of obstruction in Romney house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays during the legal transfer of property. Local searches are not likely to feature in any slowing down conveyancing in Romney.
five months have gone by since my purchase conveyancing in Romney concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Hoping to buy a property located in Romney and I am already nervous. I couldn't find anything specific about Romney. Conveyancing will be needed in due course but do you know about the Romney area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Romney. In the meantime here are some basic statistics that we found
How up-to-date is your search tool for the bank conveyancing panel in Romney? Do the banks send you an updated list?
Romney firms and firms carrying out conveyancing in Romney themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the mortgage company directly.