Some advice if I may. My Theale solicitor is advising me that he has toorder Theale conveyancing searches becausethe firm are on the Santanderapproved lawyer panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a lender your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Theale conveyancing searches.
I purchased a freehold residence in Theale but still charged rent, why is this and what is this?
It is rare for properties in Theale and has limited impact for conveyancing in Theale 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.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Are there restrictive covenants that are commonly picked up during conveyancing in Theale?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Theale. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Theale differ for new build properties?
Most buyers of new build or newly converted property in Theale contact us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in Theale usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Theale or who has acted in the same development.
I have been on the look out for a ground for flat up to £305k and identified one close by in Theale I like with a park and station nearby, however it only has 52 years unexpired on the lease. There is not much else in Theale for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I am buying a property and require a conveyancing solicitor in Theale who is on the lender conveyancing panel. Can you recommend a Theale or local Theale conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who carry out conveyancing in Theale. We dont recommend any particular firm.