I am the registered owner of a freehold house in Tilbury but still charged rent, why is this and what is this?
It’s unusual for properties in Tilbury and has limited impact for conveyancing in Tilbury 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I am buying a new build flat in Tilbury. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Tilbury you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Tilbury.
Forgive me if this question is silly but I am unexperienced as a 1st time purchaser of a ground floor flat in Tilbury. Do I collect the keys to the property on completion from my solicitor? If this is the case, I will find a local conveyancing solicitor in Tilbury?
On the day of completion you will not be required to attend the conveyancers office in Tilbury. Your solicitors will transfer the completion advance to the seller's solicitors, and once they have received this, you will be able to pick up the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
Is there a list of Virgin Money panel conveyancers in Tilbury on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. A small selection of lenders make their panel listings available online. Where you are seeking to appoint a Tilbury property lawyer on the Virgin Money please make the most of our tool.
We had selected conveyancers with offices in Tilbury on the UBS solicitor approved list. They have just billed me a supplemental charge for handling the UBS mortgage. Is this a supplemental conveyancing fee specified by UBS?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your property lawyer is entitled to levy a fee for this. The charge is not set by UBS but by your Tilbury solicitor. Plenty of firms on the UBS panel will levy ’dealing with mortgage’ fee but some practices include it on their overall fee.
What can a local search reveal concerning the property I am buying in Tilbury?
Tilbury conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company for instance Searchflow The local search is essential in every Tilbury conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your property. The search will provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
I am buying a new build house in Tilbury with the aid of help to buy. The developers would not move on the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not disclose to my solicitor about the side-deal as it could put at risk my mortgage with the bank. Should I keep quiet?.
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.
I decided to have a survey carried out on a property in Tilbury in advance of appointing conveyancers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some lenders may refuse to grant a mortgage on a flying freehold property.
It varies from the lender to lender. Santander has different requirements for example to Halifax. If you contact us we can check 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 Tilbury. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tilbury to see if the conveyancing will be more expensive.