I am the registered owner of a freehold house in South Yorkshire but still pay rent, why is this and what is this?
It’s unusual for properties in South Yorkshire and has limited impact for conveyancing in South Yorkshire 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 have existed for hundreds of years, 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 after 2037 is to be dispensed with completely.
How do I investigate if the solicitor handling my conveyancing in South Yorkshire is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Barclays Direct thus paying £187.00 plus VAT in supplemental conveyancing fees.
Feel free to take advantage of the find a conveyancing panel solicitor tool on this site. Pick the mortgage company and type ‘South Yorkshire’ or your preferred area and you will discover a number of lawyer offices in South Yorkshire or near you.
My wife and I own a terraced Edwardian house in South Yorkshire. Conveyancing practitioner acted for me and Barclays Direct. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in South Yorkshire and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing lawyer who carried out the work.
I am buying my first flat in South Yorkshire with a mortgage from Barclays Direct. The sellers refused to budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not to tell my solicitor about the extras as it will jeopardize my loan with the bank. Should I keep quiet?.
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.
My husband and I are first time buyers - had an offer accepted, yet the property agent advised that the vendor will only issue a contract if we instruct their chosen solicitors as they need an ‘expedited deal’. My instinct tells me that we should use a local conveyancer who is familiar with conveyancing in South Yorkshire
We suspect that the owner is unaware of this requirement. If they require ‘a quick sale', alienating a serious purchaser is not the way to achieve this. Avoid the agents and go straight to the sellers and make sure they understand (a)you are genuine buyers (b)you are ready to go, with finances in place © you are unencumbered (d) you wish to move quickly (e)but you intend to use your preferred South Yorkshire conveyancing lawyers - not the ones that will earn the negotiator at the agency a kickback or hit his conveyancing thresholds demanded by head office.
My wife and I are purchasing a garden flat in South Yorkshire. When we first instructed conveyancer, we were told they were on all mainstream mortgage company panels. Our financial adviser called just now to advise that they don't seem to be on the Leeds Building Society approved list. Should that be true, what should we do? Do we just choose a new property lawyer that is on their panel or do we cover the costs for separate representation, with Leeds Building Society appointing their own approved conveyancer.
Where you are acquiring a property with the assistance of a mortgage it is conventional for the buyer’s solicitors to also represent the mortgage company. In order to act for a bank or building society a conveyancer has to be on that lender's list of approved lawyers. An application has to be made by the conveyancer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the lawyer has to fulfill. Some lenders now require their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your conveyancer should call Leeds Building Society to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on Leeds Building Society's conveyancing panel and you may continue to use your own South Yorkshire solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another solicitor into the equation.