We were about to instruct a conveyancing solicitor in Sherwood listed on your site but stumbled across some other quotes on the internet appear cheaper – how come?
One can find hundreds of conveyancing organisations marketing what appear to be very low prices. Our advice is to think twice as to how important this transaction is to you that want to take 'cheap' risks with regard to the quality of the legal work. Some hide additional charges well inside the terms and conditions. The law firms that we list for conveyancing in Sherwood will notbehave this way.
I own a freehold house in Sherwood but nevertheless pay rent, why is this and what is this?
It is rare for properties in Sherwood and has limited impact for conveyancing in Sherwood 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
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.
My husband and I have arranged a further advance on our home loan from UBS as we want to conduct improvements to our home in Sherwood. Do we need to select a nearby Sherwood solicitor on the UBS conveyancing panel to handle the paperwork?
UBS do not ordinarily require firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS panel.
We have agreed to purchase a house in Sherwood. A rare aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Virgin Money your lawyer must follow the formal requirements set out in Section two of UK Finance Lenders’ Handbook for Virgin Money. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Virgin Money where a lease fails to meet these specifications. The provisions relate to the installation of panels on properties countrywide and is not isolated to Sherwood.
I have paid off my mortgage with TSB. I assume I don't need a Sherwood lawyer on the TSB panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
Due to the encouragement of my in-laws I had a survey completed on a house in Sherwood ahead of appointing lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some lenders tend not give a loan on such a home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. Should you wish to telephone us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Sherwood. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Sherwood to see if the conveyancing costs will increase in light of this.
How does the Landlord & Tenant Act 1954 impact my commercial premises in Sherwood and how can your lawyers assist?
The particular law that you refer to affords protection to commercial leaseholders, giving them the right to apply to court for a renewal tenancy and continue in occupation at the end of the lease term. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Sherwood is one of our numerous locations in which our lawyers are based
I am on look out for some leasehold conveyancing in Sherwood. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and most are in Sherwood - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Sherwood Leasehold Conveyancing - Examples of Queries Prior to buying
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Please note if it is no more than eighty years it will impact the value of the property. Check with your lender that they are happy with the length of the lease. A short lease means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you would be be obliged to have owned the premises for 24 months before you are eligible to extend the lease. Does the lease include onerous restrictions?