I purchased a freehold property in Callington but still pay rent, why is this and what is this?
It’s unusual for properties in Callington and has limited impact for conveyancing in Callington 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 generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I am buying my first flat in Callington with a mortgage from The Royal Bank of Scotland. The developers refused to reduce the price so I negotiated £7000 of additionals instead. The property agent suggested that I not to tell my lawyer about this deal as it could affect my loan with The Royal Bank of Scotland. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Callington is where the house is located. Can you shed any light on this issue?
Flying freeholds in Callington are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Callington you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Callington 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 residence.
How do I locate a Callington solicitor on the Leeds Building Society conveyancing panel? I have wheels and am prepared to travel upto 10miles to meet the conveyancer.
Feel free to make use of the search on this website. Please pick a bank and your location and you will see a number of Callington conveyancing lawyers locally. We have detailed some Callington conveyancing firms towards the end of this page and you can telephone them to see if they are on the Leeds Building Society panel
I am thinking of appointing a conveyancing solicitor in Callington for my home move. Is it possible to check a firm’s complaints history with the profession’s regulator?
You can see documented Solicitor Regulator Association (SRA) determinations resulting from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. To find records Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The SRA sometimes monitor call for training reasons.
We are hoping to buy a 2 bedroom housein Callington with a residential mortgage from a bank. We have a conveyancer in Callington but our lender advise she’s not approved on their "panel". It seems we have little choice but to instruct one of the our mortgage company panel solicitors or stay with our Callington solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The lender mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank's conveyancing panel. in the past, most banks had large numbers of law firms on their panels, including many conveyancing solicitors in Callington : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for your bank.