I purchased a freehold premises in The Hyde yet charged rent, why is this and what is this?
It is rare for properties in The Hyde and has limited impact for conveyancing in The Hyde 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.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
When it comes to lenders such as Leeds Building Society, do The Hyde lawyers have to pay a yearly amount to be on the conveyancing panel?
We are not aware of any bank fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I have decided to exercise my right to buy my property in The Hyde off the council. I have a mortgage agreed with Principality. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
Completion of my purchase has taken place for my property in The Hyde. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I have justdiscovered that Arc property Solicitors have closed. They carried out my conveyancing in The Hyde for a purchase of a leasehold apartment 12 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The easiest method to see if the premises is in your name, you can carry out 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 The Hyde conveyancing specialists.
I am buying my first flat in The Hyde with a mortgage from Accord Mortgages Ltd. The sellers refused to reduce the price so I negotiated £7000 of extras instead. The house builders rep suggested that I not inform my lawyer about this deal as it could jeopardize my loan 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.
Due to the input of my in-laws I had a survey completed on a property in The Hyde prior to retaining conveyancers. I have been told that there is a flying freehold aspect to the property. Our surveyor has said that some banks tend not give a loan on a flying freehold home.
It varies from the lender to lender. Santander has different instructions from Nationwide. Should you wish to telephone us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in The Hyde. Conveyancing will be smoother if you use a solicitor in The Hyde especially if they are accustomed to such properties in The Hyde.
What does commercial conveyancing in The Hyde cover?
The Hyde conveyancing for business premises covers a broad array of advice, offered by qualified solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.