I own a freehold premises in Badsey yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Badsey and has limited impact for conveyancing in Badsey 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.
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.
Are the BSA planning on creating a online directory to to identify firms on the Darlington Building Society conveyancing panel for instance in Badsey?
We are not aware of any plans on the part of the BSA to promote such a tool.
My wife and I have organised the release of further funds on our home loan from Bank of Ireland as we want to carry out alterations to our home in Badsey. Are we obliged to select a bricks and mortar Badsey solicitor on the Bank of Ireland conveyancing panel to deal with the legals?
Bank of Ireland don't usually instruct firms on 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 Bank of Ireland panel.
We have agreed to purchase a house in Badsey. An unusual aspect is that the roof has a solar panel. Barclays have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Barclays your lawyer must follow the formal requirements outlined in Section 2 of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook includes minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Barclays where a lease does not comply with these provisions. The specifications relate to the installation of panels on properties nationwide and is not restricted to Badsey.
The mortgage over my property is with Coventry BS for my property in Badsey. Conveyancing has been completed some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Coventry BS?
Coventry BS must be informed of your intention in advance of letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. It may be that Coventry BS will permit you to let 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 Coventry BS directly. You need not do this via a Coventry BS conveyancing panel solicitor.
Various internet forums that I have frequented warn that are the main cause of delay in Badsey house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Badsey.
I have todaydiscovered that Action Conveyancing have been shut down. They conducted my conveyancing in Badsey for a purchase of a freehold house 18 months ago. How can I check that my home is in my name in the name of the previous owner?
The quickest way to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Badsey conveyancing specialists.
How does conveyancing in Badsey differ for newly converted properties?
Most buyers of new build property in Badsey come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is constructed. This is because house builders in Badsey usually acquire 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 Badsey or who has acted in the same development.