I own a freehold residence in Wokingham but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Wokingham and has limited impact for conveyancing in Wokingham 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 new rentcharges post 1977.
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.
My wife and I have recently appointed a conveyancing solicitor in Wokingham. I I am struggling to find out if they are on the Yorkshire Building Society approved list of lawyers. Could you advise?
The first thing to do is contact the solicitor and enquire if they are on the lender panel. Otherwise you can get in touch with Yorkshire Building Society who may be able to assist.
There are numerous conveyancing solicitors in Wokingham but how do I know who's good?
It would be unwise to be seduced by the lowest Wokingham conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
is it true that all Wokingham solicitor practices on the Virgin Money conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Virgin Money conveyancing panel they would need to be governed by the SRA. The majority of banks do allow licenced conveyancers on their panel in which case such organisation would be governed by the Council of Licensed Conveyancers.
I currently have a mortgage with Clydesdale for my property in Wokingham. Conveyancing has been completed 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?
Clydesdale must be informed of your intention in advance of renting your property as this is likely to be a breach of Clydesdale’s mortgage conditions. It may be that Clydesdale will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. You need not do this via a Clydesdale conveyancing panel firm.
Do I need to pay for insurance to protect me from financial exposure to chancel repairs when purchasing a house in Wokingham?
Unless a previous purchase of the house took place after 12 October 2013 you could expect conveyancing practitioners carrying out conveyancing in Wokingham to remain encouraging a chancel search and or insurance against a claim.
I'm refinancing my current home to a buy to let loan with Leeds Building Society and intend to use the remaining equity as a deposit on a second house. The location we are interested in is Wokingham. Will your lawyers be able to act for the two mortgage companies and tie in the transactions?
Make use of our search tool on this page to check that the conveyancers are on the relevant lender panels. Having checked that they are your lawyer should be able to simultaneously deal with the two deals but you should talk with you conveyancer and communicate your desired outcome and requirements.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the bank conveyancing panel. My lawyer has said that they are on the bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the lender solicitor panel.