My wife and I are due to exchange on the purchase of a property in Royton but as a consequence of damage from the recent storms I have was able negotiate compensation from the seller of £3k taking the form of a adjustment in the price. I had intended this to be dealt with as part of a side agreement yet Principality will not agree to this. Why were they notified?
Any property lawyer being on a Principality conveyancing panel is obliged to advise Principality of any amendments to the sale price. If you prohibit your conveyancing practitioner to notify the price change to Principality then they would have to discontinue acting for you. In addition, Principality and you would have to appoint a new conveyancing practitioner for your conveyancing in Royton.
I purchased a freehold property in Royton but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Royton and has limited impact for conveyancing in Royton 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 creation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I am considering applying for a Principality mortgage for purchase of a new build (under development) in Royton with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Principality ?
There is nothing to stop you using your solicitor, but Principality will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
A relative suggested that where I am purchasing in Royton I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Royton conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Royton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning Royton.
I'm refinancing my current home to a buy to let mortgage with The Royal Bank of Scotland and intend to use the remaining equity as a deposit on further property. The area we are talking about is Royton. Will your conveyancers be able to act for the two mortgage companies and tie in the two deals?
Make use of our comparison tool on this site to be sure that the solicitors are on the relevant lender panels. Having checked that they are the solicitor should be able to simultaneously deal with the two transactions but you should have a chat with you conveyancer and make apparent your expectations and requirements.
My partner has recommend that I use his conveyancers in Royton. Should I find my own conveyancer?
Much as we are happy to recommend a Royton conveyancing lawyer it’s preferable to choose a conveyancing practitioner is to seek recommendations from friends or family who have experience in using the solicitor you're are thinking of instructing.