Find a Lender-Approved Local Conveyancer in Toddington

I purchased a freehold premises in Toddington yet invoiced for rent, why is this and what is this?

It is rare for properties in Toddington and has limited impact for conveyancing in Toddington 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 fresh rentcharges post 1977.

Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.

What happens if my lawyer’s firm is removed from the Coventry BS Solicitor panel ahead of completing my conveyancing in Toddington?

First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

I am the single recipient of my late grandmother’s will and I have everything in my name alone, including the house in Toddington. Conveyancing formalities meant that the Land Registry date was in April. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship could be regarded the same way as though I had purchased the house in April. Will no one buy the property for half a year?

The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. Some banks would take a pragmatic view as this obligation primarily exists to identify subsales or the wholesaling and assigning of property.

Last month we had a mortgage agreed in principle with Yorkshire BS. Toddington conveyancing practitioners are selected. How long does it take for Yorkshire BS to send the offer to the property lawyer?

Some lenders take longer than others. Have Yorkshire BS done the survey? Have you informed Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.

I have decided to exercise my right to buy my property in Toddington off the council. I have a mortgage offer with Santander. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use 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 Santander, you will need to appoint a solicitor on the Santander conveyancing panel.

It has been five months following my purchase conveyancing in Toddington concluded. 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 asset 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 am buying my first flat in Toddington benefiting from help to buy. The builders refused to budge the amount so I negotiated £7000 of extras instead. The estate agent advised me not disclose to my lawyer about the side-deal as it will jeopardize my loan with the lender. 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.

If all goes to plan we aim to complete the disposal of our £425,000 maisonette in Toddington next week. The management company has quoted £336 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Toddington?

For the majority of leasehold sales in Toddington conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

Addressing pre-exchange questions Where consent is required before sale in Toddington Supplying insurance information Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Toddington leasehold property is £350. For Toddington conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

Toddington Leasehold Conveyancing - Sample of Questions you should ask Prior to buying

How many of the leaseholders are in arrears for their maintenance charge payments? It would be sensible to discover as much as possible about the company managing the block as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to every day issues like the upkeep of the communal areas. Ask other people whether they are happy with them. In conclusion, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money. Be sure to find out if there is anything that is prohibited in the lease. For instance some leases prohibit pets being allowed in certain buildings in Toddington. If you love the flatin Toddington but your dog is not allowed to live with you then you have a very difficult determination.