I purchased a freehold property in Baldock but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Baldock and has limited impact for conveyancing in Baldock 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous 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.
I had intended to instruct a conveyancing solicitor in Baldock for our house purchase. Our financial adviser informed us that our mortgage company Birmingham Midshires won't deal with them. Why is this not regarded as unfair competition?
A lender can insist on a panel conveyancer act for it. You would be expected to meet the charges for this. Try using our search facility to select a solicitor to conduct conveyancing in Baldock on the Birmingham Midshires approved list of solicitors.
This question may be naive but I am wet behind the ears as FTB of a ground floor flat in Baldock. Do I receive the keys to the house on the completion date from my conveyancer? If this is the case, I will appoint a High Street conveyancing solicitor in Baldock?
On the day of completion you will not be required to go to the conveyancers office in Baldock. Your solicitors will arrange to send the purchase money to the seller's solicitors, and once they have received this, you will be called to pick up the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
Is it the case that all Baldock CQS (Conveyancing Quality Scheme) solicitors are on the Kent Reliance conveyancing list of approved practices?
A selection of banks and building societies now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
HSBC have agreed my mortgage in principle, my bid on a apartment in Baldock has been agreed to, what happens next?
The property agent will need to be informed of your property lawyer's details (be sure the lawyers are on the lender’s panel). Telephone HSBC or your broker and finish off any appropriate paperwork. HSBC will appoint a valuer who will get in contact with the selling agent or owners to arrange a time for the valuation to occur. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. HSBC will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Baldock.
Are there restrictive covenants that are commonly identified during conveyancing in Baldock?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Baldock. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am 3 weeks into a freehold purchase having been recommend to solicitors by the high street agent to carry out the conveyancing in Baldock. I am am starting to be frustrated with the level of service. Can you help me find new lawyers?
A solicitor would need to be really bad in order to consider diss instructing them. Has your mortgage offer been generated? If so you will need to advise them of the replacement conveyancer and ensure the offer are re-issued. Your conveyancer needs to be on the lenders panel to avoid supplemental costs and delays. That should be your starting point. The search tool should help you find a bank approved solicitor for your conveyancing in Baldock
Our conveyancer in Baldock has discovered a a legal deficiency with the lease for the flat we are buying in Baldock. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor has advised that as he is on the bank conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. A precondition to being on the bank approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.