My Wingate lawyer has identified a difference between the information in the valuation survey and what is revealed within the conveyancing documents. My solicitor has advised that he is duty bound to check that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s stance appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am the registered owner of a freehold premises in Wingate but still pay rent, why is this and what is this?
It is rare for properties in Wingate and has limited impact for conveyancing in Wingate 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 generation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
We are selling our home in Wingate. Does the property lawyer need to be on the Leeds Building Society conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.
The deeds to our house are lost. The lawyers who dealt with the conveyancing in Wingate 4 years ago are no longer around. What are my next steps?
Assuming you have a registered title the information relating to your proprietorship will be recorded by the Land Registry with a Title Number. It is easy to perform a search at the Land Registry, find your property and get up to date copies of the Registered Entries for a small fee. Where the title is Leasehold then the Land Registry will usually retain a certified copy of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
How does conveyancing in Wingate differ for new build properties?
Most buyers of new build or newly converted property in Wingate contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is constructed. This is because builders in Wingate typically purchase the site, 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 accustomed to new build conveyancing in Wingate or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Wingate is the location of the property. Is there any guidance you can impart?
Flying freeholds in Wingate are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wingate you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wingate may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.