I purchased a freehold residence in Beaminster but still pay rent, why is this and what is this?
It’s unusual for properties in Beaminster and has limited impact for conveyancing in Beaminster 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
My grandmother passed away last year and as sole heir and executor I was left the property in Beaminster. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this allowed?
Given you plan to refinance then HSBC will insist on your using a conveyancer on the HSBC conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your HSBC conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the HSBC mortgage is registered as a charge at the Land Registry.
I just acquired a flat at auction in Beaminster. Conveyancing is necessary. What are my next steps?
Given that you have now for all intents and purposes signed on the dotted line you should instruct a conveyancing practitioner soon as you are facing a tight a fixed date to complete the purchase. An auction property will ordinarily have an associated auction pack. This will include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the auction papers may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You need to give this to the lawyer working for you at the earliest opportunity. You also need to ensure that your finances are in order to complete the transaction on the set completion date.
This question may be naive but I am wet behind the ears as a 1st time buyer of a ground floor flat in Beaminster. Do I receive the keys to the premises on the completion date from my lawyer? If this is the case, I will use a local conveyancing solicitor in Beaminster?
On the day of completion you do not need to attend the conveyancers office in Beaminster. Your solicitors will electronically transfer the completion advance to the owner’s solicitors, and shortly after the monies have arrived, you will be able to receive the keys from the property Agents and start moving into the property. Usually this happens between 1 and 3pm.
It is unclear whether my lender requires a lease extension. I have telephoned my Beaminster building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Beaminster conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend in accordance with their published requirements. Who do I believe?
As long as the solicitor is on the lender panel, they must adhere to the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when purchasing a house in Beaminster? or I am told that there is a law dating back centuries that means some homeowners residing in a parish church boundary may be liable to pay for repairs towards the chancel in proximity to the church. Is this suitable for conveyancing in Beaminster?
Unless a previous purchase of the property completed after 12 October 2013 you may expect lawyers carrying out conveyancing in Beaminster to remain encouraging a chancel search and or chancel repair liability policy.
I'm purchasing a new build house in Beaminster with a mortgage from Bank of Ireland. The developers refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not reveal to my lawyer about this side-deal as it would adversely affect my loan with Bank of Ireland. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
As co-executor for the will of my grandmother I am disposing of a residence in Newport but reside in Beaminster. My solicitor (based 200 kilometers awayrequires that I execute a stat dec ahead of the transaction finalising. Could you suggest a conveyancing practitioner in Beaminster who can witness and place their company stamp on the document?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are located in Beaminster