I am acquiring a newly built apartment in Burnham and my conveyancer is advising me that she has to the mortgage company to reveal incentives from the builder. I am on a tight deadline to exchange contracts and I don't want to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I purchased a freehold property in Burnham but still pay rent, why is this and what is this?
It’s unusual for properties in Burnham and has limited impact for conveyancing in Burnham 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 generation of fresh 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 will be extinguished.
Completion of my purchase has taken place for my property in Burnham. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I recently had an offer agreed on a house in Burnham. My financial adviser suggested a conveyancer. I paid an on account payment of £225. A couple of days later, the solicitor called me to say that they were not on the Yorkshire BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Yorkshire BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My offer was accepted on a house in Burnham on 17/8/2020, valuation was booked five days after, received a clean bill of health. Conveyancer appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Kent Reliance and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Kent Reliance conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Kent Reliance to deal with your lawyer's application to be on the Kent Reliance conveyancing panel. There's no guarantee that your solicitor will be accepted.
My wife and I are downsizing from our property in Burnham and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any high street Burnham conveyancer would know this is not the case. It does beg the question why the buyers are using an online conveyancing firm as opposed to a conveyancing solicitor in Burnham. Having lived in Burnham for many years we know that this is a non issue. Do we get in touch with our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one near me in Burnham I like with a park and transport links in the vicinity, however it only has 61 years on the lease. There is not much else in Burnham suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan the shortness of the lease may be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
We are in the process of purchasing a property in Burnham. Conveyancing is not yet done but we would like keep our purchase price confidential from the likes of Rightmove. How could this be done?
HM Land Registry by statute are required to note price paid data on the official title for residential properties countrywide including homes in Burnham. The register of title is a public document, so HM Land Registry would be breaking the law excluded specific properties such as the property in Burnham.
You can make a request of HM Land Registry to hide the price paid data however the answer will be a No.