We decided to go with a Southwell based solicitor for my conveyancing in Southwell yesterday. Reviewing the Terms and Conditions it is apparent thatI am responsible for charges even if the sale doesn't happen. Would I be best advised to select an internet lawyer promising no move no charge conveyancing in Southwell?
It is usually ‘give and take’ in that if "No Sale No Fee" is available then the fee levels will generally be more expensive to counteract those conveyances that fail to complete. Dont forget that such arrangements rarely protect you from expenditure by way of example Southwell conveyancing search expenses.
I purchased a freehold property in Southwell but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Southwell and has limited impact for conveyancing in Southwell 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 creation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
My grandmother passed away six months ago and as sole heir and executor I was left the house in Southwell. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this possible?
Given you intend to re-mortgage then Lloyds will insist on your using 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.
Me and my brother purchased a renovated Victorian house in Southwell. Conveyancing solicitor represented me and Yorkshire Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the matching address. I'd like to know for sure, how can I find out??
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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Southwell and other locations in 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 buyers. You can also check the situation with your conveyancing practitioner who conducted the work.
I'm buying a new build house in Southwell with a mortgage from Norwich and Peterborough Building Society. The builders would not budge the price so I negotiated five thousand pounds worth of extras instead. The estate agent suggested that I not inform my lawyer about the extras as it could affect my loan with Norwich and Peterborough Building Society. Do I keep my lawyer in the dark?.
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 father-in-law has urged me to instruct his conveyancing solicitors in Southwell. Should I choose my own solicitor?
No doubt it’s preferable to select a conveyancing solicitor is to get feedback from friends or relatives who have actually used the solicitor you're contemplating using.