I own a freehold residence in Rotherham but nevertheless charged rent, why is this and what is this?
It is rare for properties in Rotherham and has limited impact for conveyancing in Rotherham 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 new 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 after 2037 will be dispensed with completely.
There are plenty of conveyancing solicitors in Rotherham but how do I know who's good?
Do not opt for the lowest Rotherham conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
A relative pointed out to me me that in purchasing a property in Rotherham there may be various restrictions affecting the ability to carry out external changes to the property. Is this right?
There are anumerous of properties in Rotherham which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Rotherham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it correct that all Rotherham CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing list of approved firms?
It is true that some banks and building societies now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
How does conveyancing in Rotherham differ for newly converted properties?
Most buyers of new build property in Rotherham approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is constructed. This is because house builders in Rotherham tend to 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 conveyancers 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 Rotherham 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 simple, chain free conveyancing. Rotherham is the location of the property. What do you suggest?
Flying freeholds in Rotherham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Rotherham you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rotherham 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 property.
I need to find a conveyancing solicitor for residential conveyancing in Rotherham. I've stumble upon a site which appears to be the perfect solution If it is possible to get all formalities completed via phone that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What is the reason for new build conveyancing in Rotherham being more expensive?
Conveyancing in Rotherham for newly converted or new build properties usually involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as further investigations and contractual considerations.