I am the registered owner of a freehold house in Beddington yet charged rent, why is this and what is this?
It’s unusual for properties in Beddington and has limited impact for conveyancing in Beddington 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 generation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I am considering applying for a TSB mortgage for purchase of a newly converted (under development) in Beddington with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for TSB ?
In theory, you could use a solicitor that is not on the TSB conveyancing panel, but TSB would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Forgive me if this question is silly but I am unexperienced as FTB of a two bedroom flat in Beddington. Do I pick up the keys to the house on the completion date from my solicitor? If this is the case, I will use a High Street conveyancing solicitor in Beddington?
On the day of completion you will not be required to attend the conveyancers office in Beddington. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's conveyancers, and once they have received this, you should be invited to collect the keys from the Estate Agents and start moving into the property. Usually this happens early afternoon.
We have a mortgage agreed in principle with Barclays. Beddington conveyancing lawyers are appointed. How long does it take for Barclays to forward the offer to the lawyer?
Some lenders take longer than others. Have Barclays conducted the survey? Have you informed Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
My offer was accepted on a house in Beddington on 14/5/2020, valuation was booked 3 days later, received a clean bill of health. Property lawyer appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Skipton and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Skipton conveyancing panel. Are Skipton entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Beddington?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Beddington. 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…’
Over the last few months I have been searching for a flat up to £195,000 and found one near me in Beddington I like with a park and station in the vicinity, however it's only got 49 remaining years left on the lease. I can't really find anything else in Beddington suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan that many years will likely be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
Our conveyancing in Beddington is set to complete this Friday, yet the people I am purchasing from wishes to move out on the Saturday noon. Do I accept this?
It is not possible to complete on a Saturday due to the bank systems aren't operational.