Much to our surprise we have been advised by our broker that my Towcester solicitor is not on the lender Conveyancing panel. How can I be certain whether this is indeed the case?
Your first step should be to call your Towcester conveyancer. You lawyer should notify you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
I own a freehold premises in Towcester but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Towcester and has limited impact for conveyancing in Towcester 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 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 post 2037 will be extinguished.
After looking at mumsnet.com for an online solicitor in Towcester, many say that I must look for a CQS kitemarked solicitor. What is CQS?
Towcester Conveyancing Quality Scheme practices have achieved certification under the Law Society's Scheme (CQS) CQS was brought about to promote high standards in the home buying process. CQS helps consumers to identify solicitor firms who provide a quality residential conveyancing. Towcester is one of the many areas in England and Wales in which accredited firms are based. The conveyancing scheme obliges practices to undergo a strict assessment, compulsory training, self-reporting, spot checks and annual reviews in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Council of Mortgage Lenders.
I note that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when purchasing a property in Towcester? or I am told that there is historic law that could mean that homeowners living in a parish church boundary may be liable to pay for maintenance to the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Towcester?
Unless a previous purchase of the property took place post 12 October 2013 you may assume that conveyancing practitioners conducting conveyancing in Towcester to continue to recommend a chancel search and or insurance against a claim.
I have just started marketing my ground floor flat in Towcester. Conveyancing is yet to be initiated, but I have recently had a yearly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as usual because all rents and maintenance invoices will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Towcester Leasehold Conveyancing - Examples of Questions you should consider before buying
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Does the lease include onerous restrictions? You should be aware if it is no more than eighty years it will have adverse implications on the value of the property. It is worth checking with your mortgage company that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this will be. Remember, in most cases you would be required to have owned the residence for 24 months before you are entitled to carry out a lease extension. How much is the ground rent and service charge?
Been searching for a conveyancing practitioner for leasehold sale conveyancing in Towcester. We are selling, uncomplicated no mortgage to pay off, no rush, currently vacant. Received a quote from a conveyancing practitioner for £900 excluding VAT which is a tad expensive given that its so straightforward. Can I pay less for conveyancing in Towcester?
As it’s a sale only, 475 + VAT would be about the lowest for sale conveyancing in Towcester.