I am the registered owner of a freehold premises in Shoreditch yet invoiced for rent, why is this and what is this?
It is rare for properties in Shoreditch and has limited impact for conveyancing in Shoreditch 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 generation 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 in 2037 will be dispensed with completely.
I have decided to exercise my right to buy my property in Shoreditch off the council. I have a mortgage agreed with Lloyds. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
Planning on purchasing a flat in Shoreditch. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Shoreditch solicitor is on the Skipton conveyancing panel.
After shopping around on the internet I have found a Shoreditch conveyancer having checked that they are on the Lloyds conveyancing panel. Does my lawyer arrange the survey of the property?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Shoreditch surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I am buying my first flat in Shoreditch with the aid of help to buy. The builders refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not to tell my solicitor about the extras as it will adversely affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
What makes your site different to alternative internet conveyancing brokers when it comes to conveyancing in Shoreditch?
At this site obtain a fixed fee quote via a Solicitor or Licensed Conveyancer that understands the issues of your conveyancing in Shoreditch. Unlike many estate agents and many comparison sites we do not charge firms a commission if you choose them for your property ownership legalities in Shoreditch
My husband and I are novice buyers - agreed a price, but the property agent informed us that the seller will only go ahead if we use their preferred conveyancers as they are insisting on an ‘expedited deal’. We would rather use a high street conveyancer used to conveyancing in Shoreditch
It is highly unlikely the owners are behind this. If they want ‘a quick sale', alienating a motivated buyer is is going to put the whole deal at risk. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you are going to use your preferred Shoreditch conveyancing lawyers - rather thanthe ones that will give the estate agent a commission or hit his conveyancing thresholds pre-set by corporate headquarters.
Do I stop the direct debit for my mortgage with Nationwide as soon as a completion date for my sale in Shoreditch has been set?
No, you should maintain meeting any mortgage payments to Nationwide until the mortgage is discharged on completion as part of your Shoreditch conveyancing.