I purchased a freehold residence in Whaley Bridge but nevertheless pay rent, why is this and what is this?
It is rare for properties in Whaley Bridge and has limited impact for conveyancing in Whaley Bridge 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 establishment of new rentcharges from 1977 onwards.
Previous 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.
Do the Building Society Association intend to launch a online directory to to identify practices on the Melton Mowbray Building Society conveyancing panel for example in Whaley Bridge?
Lexsure has not been advised of any plans on the part of the BSA to promote such a register.
Forgive me if this question is silly but I am unexperienced as FTB of a garden flat in Whaley Bridge. Do I collect the keys to the house on the completion date from my solicitor? If this is the case, I will instruct a local conveyancing solicitor in Whaley Bridge?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you will be invited to collect the keys from the selling Agents and start moving into the property. Usually this occurs early afternoon.
Is it the case that all Whaley Bridge conveyancing solicitors on the Yorkshire BS conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Yorkshire BS approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Many lenders do permit licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.
My partner and I have arranged the release of further monies on our home loan from Aldermore as we intend to carry out renovations to our home in Whaley Bridge. Do we need to appoint a bricks and mortar Whaley Bridge solicitor on the Aldermore conveyancing panel to deal with the paperwork?
Aldermore do not ordinarily instruct a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore conveyancing panel.
I have been told that property searches are a common cause of obstruction in Whaley Bridge conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Whaley Bridge.
I'm purchasing my first flat in Whaley Bridge with a mortgage from Skipton Building Society. The sellers refused to move on the price so I negotiated 6k of extras instead. The estate agent told me not inform my lawyer about this deal as it may put at risk my mortgage with the bank. 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.
I'm remortgaging my primary house to a buy to let mortgage with Bank of Ireland and I will use the rest of the raised equity as a deposit on another property. The neighborhood we are talking about is Whaley Bridge. Will your lawyers be able to act for both sets of banks and link together the two deals?
Make use of our comparison tool on this page to ensure that the conveyancers are approved by both mortgage companies. Assuming that they are your solicitor should be able to tie up the two conveyancing matters but you should have a chat with you solicitor and make apparent your desired outcome and requirements.