I own a freehold property in Silverdale yet pay rent, why is this and what is this?
It’s unusual for properties in Silverdale and has limited impact for conveyancing in Silverdale 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 creation of new 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 is to be dispensed with completely.
My aunt passed away 10 months ago and as sole heir and executor I was left the property in Silverdale. The house had a relatively small loan left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this possible?
Where you intend to refinance then Lloyds will require that you use a conveyancer on the Lloyds conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Lloyds conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Lloyds mortgage is registered as a charge at the Land Registry.
Have just purchased a probate house at auction in Silverdale. Conveyancing is necessary. What happens now?
Having exchanged you should find a conveyancing practitioner quickly as you now have a pending a drop dead date to complete the deal. Every auction property should have a bespoke auction set of papers. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the legal papers should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You must hand this to the lawyer instructed by you as soon as possible. Do make sure that you have funds organised to complete on the date specified in the contract.
My solicitor has informed me that breach of easement insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Silverdale?
The appropriate level of breach of easement indemnity insurance should be dictated by who your lender. It would differ for example between Nationwide Building Society and Bank of Scotland. Conveyancing solicitors as opposed to members of the public take out such policies.
When it comes to lenders such as Santander, do Silverdale conveyancers have to pay an annual charge to be on the list of approved solicitors?
We are not aware of any lender fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I got the keys to my apartment on 2 June and my personal details are still not registered. Should I be concerned? My conveyancing solicitor in Silverdale expressed confidence that it would be concluded in a couple of weeks. Are titles in Silverdale uniquely lengthy to register?
As far as conveyancing in Silverdale is concerned, registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can vary according to who lodges the application, whether it is in order and if the Land registry need to notify any other parties. As of today roughly three quarters of such applications are completed in less than three weeks but some can be subject to protracted delays. Historically registration occurs after the purchaser has moved in to the premises so post completion formalities is not typically an essential issue but where it is urgent that the the registration takes place urgently then you or your solicitor should speak with the land registry and explain the circumstances.
Am I right to be wary about brokers that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a local Silverdale conveyancing practice?
As is the case with many professional services, often suggestions from connections can be extremely useful or valuable. But there are many people with a vested interest in a conveyancing matter; estate agents, financial adviser and banks might all recommend solicitors to choose. Sometimes these lawyers might be known to one of the organisations as one of the best in their field, but sometimes there behind the scenes commercial relationship behind the recommendation. You have the right to choose your own conveyancer. However, bear in mind that many mortgage providers specify a panel list of lawyers you must use for the mortgage aspect of your home move.
Our lawyer in Silverdale is asking me for identification documents stating that this is part of his retainer as a conveyancer on the lender Conveyancing panel. Can this be correct?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the mortgage company. This is not specific to conveyancing in Silverdale