I purchased a freehold premises in Temple Fortune but still pay rent, why is this and what is this?
It’s unusual for properties in Temple Fortune and has limited impact for conveyancing in Temple Fortune 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 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 are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel conveyancer as I would prefer to use a Temple Fortune based conveyancing firm?
Do check but the chances are that appoint one of their panel solicitors should you accept the "fee-free" incentive. Call the bank and check if they allow a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor near Temple Fortune.
I have paid off my mortgage with Clydesdale. I assume I don't need a Temple Fortune property lawyer on the Clydesdale panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Clydesdale mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Clydesdale mortgage from the register. Clydesdale, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
About to purchase maisonette in Temple Fortune. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nottingham conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Temple Fortune conveyancer is on the Nottingham conveyancing panel.
Our offer on a property in Temple Fortune has been accepted, the sellers do however have an associated purchase. The sellers have offered on somewhere, but it’s not yet agreed to, and have viewings of other properties in the pipeline. I have instructed a nearby conveyancing solicitor in Temple Fortune. What should be my next step? At what point do I apply for the mortgage with Santander?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is approx £1k, then valuation, Temple Fortune conveyancing search charges, etc). First, you must ensure that your lawyer is on the Santander conveyancing panel. Concerning the next steps this very much dictated by the circumstances of your case, attraction to the property and on the state of the market. During a rising market many purchasers would apply for the mortgage with Santander and pay for the valuation and only if it comes back ok would they request their property lawyer to proceed with the conveyancing in Temple Fortune.
4 months have elapsed following my purchase conveyancing in Temple Fortune completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a leasehold apartment up to £245,000 and identified one close by in Temple Fortune I like with open areas and station nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Temple Fortune for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan the shortness of the lease will be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
We are one month into a residential purchase having been directed to solicitors by the high street agent to perform conveyancing in Temple Fortune. I am am extremely dissatisfied with the level of service. Could you you assist me in finding new lawyers?
They would have to be very poor to suggest diss instructing them. Has your mortgage offer been issued? If so you will need to advise them of the new contact details and get the offer are re-issued. Your solicitor ideally needs to be on the mortgage company approved list to avoid added charges and frustration. That should be your starting point. The find a solicitor tool can help you find a bank approved lawyer for your home move in Temple Fortune