I am the registered owner of a freehold house in Snaith yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Snaith and has limited impact for conveyancing in Snaith 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 generation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Please explain the implications if my lawyer’s firm is expelled from the Bank of Ireland Solicitor panel ahead of completing my conveyancing in Snaith?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I have justfound out that Action Conveyancing have been shut down. They carried out my conveyancing in Snaith for a purchase of a freehold house 9 months ago. How can I check that the property is in my name in the name of the previous owner?
The easiest way to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Snaith conveyancing specialists.
I'm purchasing a new build house in Snaith with a loan from Nottingham Building Society. The sellers refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent suggested that I not to tell my solicitor about this deal as it will adversely affect my mortgage with the bank. Should I keep quiet?.
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.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Snaith is the location of the property. What do you suggest?
Flying freeholds in Snaith are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Snaith you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Snaith may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My company is hoping to lease a unit on the high street. Can you recommend lawyers offering competitive costs for commercial conveyancing in Snaith for less than 1500k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Snaith, including the disposal and purchase of businesses as well as simply premises. If you are intending to purchase or sell a shop, pub, restaurant, office, retail unit or a whole business we can find you the right firm. As for the charges these will vary based on the structure and terms of the deal. Please provide us with your contact information or call us so that we may supply you with a detailed commercial conveyancing calculation.