I own a freehold property in Whitley Bay but nevertheless charged rent, why is this and what is this?
It is rare for properties in Whitley Bay and has limited impact for conveyancing in Whitley Bay 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 from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I am mortgaging my property in Whitley Bay, does my lawyer need to be on the Kent Reliance Solicitor panel?
In theory, you could use a solicitor that is not on the Kent Reliance conveyancing panel, but Kent Reliance would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Should commercial conveyancing searches reveal proposed roadworks that may affect a commercial premises in Whitley Bay?
Many commercial conveyancing solicitors in Whitley Bay will perform a SiteSolutions Highways report as it reduces the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Whitley Bay. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Whitley Bay.
For every commercial conveyancing transaction in Whitley Bay it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to Whitley Bay commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not carried out for residential conveyancing in Whitley Bay.
Due to the encouragement of my in-laws I had a survey completed on a house in Whitley Bay in advance of appointing lawyers. I have been advised that there is a flying freehold element to the property. The surveyor advised that some mortgage companies tend not give a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. If you call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Whitley Bay. Conveyancing may be slightly more expensive based on your lender's requirements.
I am four weeks into a freehold purchase having been directed to a firm by the selling agent to execute conveyancing in Whitley Bay. I am am starting to be disappointed with the quality of service. Can you help me find new solicitors?
They would need to be really poor to suggest changing them. Has the mortgage been generated? In the event that it has you will need to advise them of the new contact details and have the loan are re-issued. Your conveyancer should be on the lenders approved list to avoid escalating charges and complications. So that should be your starting point. The find a solicitor tool can assist you in finding a bank approved conveyancer for your conveyancing in Whitley Bay
My lawyers in Whitley Bay have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the mortgage company. Is it case that being on the lender conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the lender directly.