I own a freehold premises in Tyne And Wear but still charged rent, why is this and what is this?
It is rare for properties in Tyne And Wear and has limited impact for conveyancing in Tyne And Wear 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 fresh 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 post 2037 will be extinguished.
When it comes to lenders such as RBS, do Tyne And Wear lawyers have to pay a yearly amount to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
We have agreed to purchase a house in Tyne And Wear. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nationwide be concerned?
As your lender is Nationwide your lawyer must check the conveyancing requirements contained in Part two of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook sets out minimum conditions for solar panel roof-space leases, and lawyers are required to report to Nationwide where a lease does not comply with these requirements. The provisions relate to the installation of panels on properties in England and Wales and is not restricted to Tyne And Wear.
Clydesdale have agreed my home loan in principle, my offer on a house in Tyne And Wear has been agreed to, what are the next steps?
Your property agent will wish to know who your solicitors are (ensure that the solicitors are on the lender’s panel). Call up Clydesdale or the broker and complete any outstanding documentation. Clydesdale will instruct a valuer who will get in contact with the estate agent or vendor to arrange an appointment. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Clydesdale will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Tyne And Wear.
What can a local search inform me concerning the property we're purchasing in Tyne And Wear?
Tyne And Wear conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search organisations for example Onsearch The local search is essential in every Tyne And Wear conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your new home. The search should reveal data on, amongst other things, details on planning applications relevant 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 subject sections.
The deeds to my property can not be found. The conveyancers who handled the conveyancing in Tyne And Wear 10 years ago no longer exist. What are my next steps?
Nowadays there are duplicates made of almost everything, and your solicitor should be aware precisely where to look for all the relevant documentation so you may buy or sell your property without any difficulty. If duplicates can’t be located, your conveyancer can arrange cover in the form of insurance or indemnities against possible claims on the property.
How does conveyancing in Tyne And Wear differ for newly converted properties?
Most buyers of new build property in Tyne And Wear come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Tyne And Wear usually buy the land, 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 Tyne And Wear or who has acted in the same development.
I'm purchasing a property in Tyne And Wear. I have found my conveyancer's company on the Law Society's list, but I can't see my lawyer's name as listed on the regulator's website. Is this a big problem?
Not all staff in the law firm must be listed by the regulator. Provided there is someone qualified to 'oversee' the transaction, the actual day-to-day activity can be conducted by unlicensed staff.