I am the registered owner of a freehold property in Tibshelf but still pay rent, why is this and what is this?
It’s unusual for properties in Tibshelf and has limited impact for conveyancing in Tibshelf 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 establishment of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Our bank has suggested a law firm on their panel based in Tibshelf but I would rather use a conveyancing lawyer in Tibshelf or nearer to where I live. Are you able to assist?
The minority of Tibshelf conveyancing practitioners are approved and listed on all banks conveyancing panel. Please make use of our find an approved solicitor tool to choose a Tibshelf conveyancing conveyancer on the on the bank panel.
When it comes to lenders such as Bank of Ireland, do Tibshelf conveyancing practitioners face a yearly amount to be on the conveyancing panel?
We are not aware of any bank fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I currently have a mortgage with Principality for my property in Tibshelf. Conveyancing was finalised months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Principality?
You must advise Principality before renting your property as this is likely to be a breach of Principality’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. You need not do this via a Principality conveyancing panel firm.
After what seems like an age I have had an offer on a flat in Tibshelf agreed to, the vendors do however have a tied purchase. The owners have offered on somewhere, but it’s not yet agreed to, and are looking at other apartments booked. I have instructed a bricks and mortar conveyancing solicitor in Tibshelf. What do I do now? At what stage do I apply for the mortgage with Kent Reliance?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx £1k, then survey, Tibshelf conveyancing search costs, etc). The first course of action is to ensure that your solicitor is on the Kent Reliance conveyancing panel. As to the next stages this very much dictated by the specifics of your case, motivation for the property and on the state of the market. In a hot market the majority of buyers would apply for the mortgage with Kent Reliance and arrange for the valuation and only if it was satisfactory would they request their conveyancer to move forward with the conveyancing in Tibshelf.
A relative advised me that where I am buying in Tibshelf I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Tibshelf conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Tibshelf around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful data regarding Tibshelf.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a quick, no chain conveyancing. Tibshelf is where the house is located. Can you shed any light on this issue?
Flying freeholds in Tibshelf are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Tibshelf you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tibshelf may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I'm converting the mortgage on my existing house to a buy to let loan with The Royal Bank of Scotland and intend to use the remaining equity as a deposit on further property. The area we are interested in is Tibshelf. Will your conveyancers be able to act for the two lenders and tie in the conveyances?
Make use of our search tool on this page to be sure that the conveyancers are on the appropriate lender panels. Assuming that they are your lawyer should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you conveyancer and make apparent your expectations and needs.