I am the registered owner of a freehold property in Beddau but nevertheless pay rent, why is this and what is this?
It is rare for properties in Beddau and has limited impact for conveyancing in Beddau 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.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
Me and my brother purchased a 4 bedroom Edwardian house in Beddau. Conveyancing solicitor represented me and Norwich and Peterborough Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold under the matching property. Is it worth asking Norwich and Peterborough Building Society to clarify?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Beddau and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with the conveyancing lawyer who conducted the purchase.
I'm purchasing a new build house in Beddau with a loan from Lloyds TSB Bank. The developers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not inform my conveyancer about the deal as it could affect my mortgage with Lloyds TSB Bank. Do I keep my lawyer in the dark?.
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.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Beddau is the location of the property. Is there any guidance you can give?
Flying freeholds in Beddau are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Beddau you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Beddau 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 premises.
Do I need to be suspicious by estate agents that I am dealing with are recommending a web based conveyancing firm rather than a High Street Beddau conveyancing practice?
As with lots of professional services, often recommendations from connections can be worth their weight in gold. Nevertheless there are numerous parties with a vested interest in a conveyancing matter; estate agents, financial adviser and lenders may suggest lawyers to appoint. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there exists a financial incentive behind the endorsement. You are at liberty to choose your preferred conveyancer. However, bear in mind that most banks specify a panel list of conveyancers you are obliged to use for the mortgage related work in your transaction.
I need to instruct a conveyancing solicitor for remortgage conveyancing in Beddau. I've discover a site which appears to be the ideal answer If there is a chance to get all this stuff done via web that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?