I am the registered owner of a freehold premises in South Hackney but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in South Hackney and has limited impact for conveyancing in South Hackney 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 from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
We're in South Hackney, First time buyers buying with a mortgage (lender is UBS , and our lawyer is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My wife and I are purchasing a flat in South Hackney. It might be a silly question but how we can trust a conveyancer? At some point we have to send our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I can see plenty of information on this site about conveyancing in South Hackney but what is your top tip for choosing the right conveyancer in South Hackney
We would encourage you not to base your choice on the lowest South Hackney conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I have a mortgage with Barclays for my property in South Hackney. Conveyancing was finalised 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Barclays?
You must advise Barclays before letting out your property as this is likely to be a breach of Barclays’s mortgage conditions. It may be that Barclays will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. It should not be necessary to do this via a Barclays conveyancing panel solicitor.
Should commercial conveyancing searches reveal planned roadworks that may affect a commercial estate in South Hackney?
Its becoming the norm that commercial conveyancing solicitors in South Hackney will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in South Hackney. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in South Hackney.
For each commercial conveyancing transaction in South Hackney it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could cause delays to South Hackney commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not carried out for domestic conveyancing in South Hackney.
The deeds to my home are lost. The lawyers who handled the conveyancing in South Hackney 4 years ago have long since closed. Will I be able to sell the house?
Assuming the title is registered the information relating to your proprietorship will be recorded by the Land Registry with a Title Number. It is easy to carry out a search at the Land Registry, find your house and get current copies of the Registered Entries for a small fee. If the title is Leasehold then the Land Registry will usually retain a file copy of the Registered Lease and again, a copy can be ordered for a small fee.
Should I be concerned that brokers that I am dealing with are recommending an online conveyancing firm as opposed to a local South Hackney conveyancing company?
As with lots of professional services, often suggestions from family and friends can be most helpful. Yet there are many players in a conveyancing transaction; estate agents, financial adviser and mortgage companies may put forward lawyers to retain. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there may be a financial incentive behind the recommendation. You are at liberty to appoint your own lawyer. Don't forget that many banks specify a panel list of solicitors you are obliged to use for the mortgage related work in your home move.