I purchased a freehold property in Rustington but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Rustington and has limited impact for conveyancing in Rustington 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 fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
A colleague informed me that in buying a property in Rustington there could be various restrictions preventing external changes to a property. Is this right?
There are a number of properties in Rustington which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Rustington should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am the single beneficiary of my late mum's estate and I have everything in my name alone, including the my former home in Rustington. The Rustington property was put into my name in January. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership will be considered the same way as though I had purchased the house in January. Will no one buy the property for half a year?
The CML 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 impacted by that. Some lenders would take a pragmatic view as this provision principally exists to capture subsales or the flipping of properties.
RBS have agreed my mortgage in principle, my offer on a house in Rustington has been accepted, now what?
The estate agent will want to know who your solicitors are (ensure that the conveyancers are on the bank’s panel). Call up RBS or your financial adviser and complete any outstanding forms. RBS will instruct a valuer who will get in contact with the selling agent or vendor to arrange an appointment. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. RBS will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Rustington.
I used Wolstenholmes several years ago for my conveyancing in Rustington. I now require my file however cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Rustington of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm buying a new build house in Rustington with the aid of help to buy. The builders refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The property agent told me not reveal to my lawyer about the side-deal as it may impact my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the encouragement of my in-laws I had a survey completed on a property in Rustington in advance of instructing solicitors. I have been informed that there is a flying freehold aspect to the property. The surveyor has said that some mortgage companies tend refuse to grant a mortgage on this type of home.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. If you e-mail us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Rustington. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Rustington to see if the conveyancing will be more expensive.
Do online conveyancing companies undertake everything a local Rustington solicitor does or do I still need to employ a solicitor for the final stages for my conveyancing in Rustington?
Where you use an online conveyancer they should cover all the tasks your Rustington conveyancer will cover.