I purchased a freehold premises in Charlton but still invoiced for rent, why is this and what is this?
It is rare for properties in Charlton and has limited impact for conveyancing in Charlton 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 establishment of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
I had intended to instruct a property lawyer in Charlton for our home move. Our broker has since notified us that our mortgage lenders Aldermore won't deal with them. Why is this not regarded as unfair competition?
Lenders normally imposes restrictions either the type or the amount of conveyancing solicitors on their member panel. Typical examples of such restriction(s) being that a law practice must have two or more partners. In addition to restricting the type of firm, a few lenders have limited the number of firms they allow to represent them. Be aware that Aldermore have no responsibility for the quality of advice provided by any member of Aldermore Conveyancer Panel. Mortgage fraud was a key driver in the reduction of solicitor panels since 2008 even though there remains differing opinions concerning the level of solicitor engagement in some of that fraud. Figures from the Land Registry indicate that plenty of law firms, including some in or near Charlton only perform a couple conveyances per annum.
Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Charlton I like with amenity areas and railway links nearby, however it only has 51 remaining years left on the lease. There is not much else in Charlton in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage the remaining unexpired lease term will be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
How difficult is it to swap conveyancer as I need to instruct one who is on the Nottingham Building Society conveyancing list. I had appointed a local conveyancing solicitor in Charlton five minutes from me but she is not approved by Nottingham Building Society
It would be our pleasure to assist you select a conveyancing solicitor in Charlton on the Nottingham Building Society panel. Please note that the solicitors that we list do not pay us fee if you instruct them and are authorised and regulated by the SRA who regulate all conveyancing solicitors in Charlton. Using the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Charlton.
My husband and I are novice buyers - had an offer accepted, but the agent has warned us that the vendor will only go ahead if we instruct the agent's recommended solicitors as they need an ‘expedited deal’. We would rather use a family conveyancer with experience of conveyancing in Charlton
We suspect that the owner is not behind this demand. Should the owner desire ‘a quick sale', alienating a serious buyer is is going to put the whole deal at risk. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you intend to instruct your preferred Charlton conveyancing lawyers - rather thanthe ones that will earn the estate agent a introducer fee or achieve conveyancing targets set by corporate headquarters.
We have AIP from Yorkshire Building Society who have advised we could borrow up to £300k. When do I need to appoint a solicitor for conveyancing? Charlton is where we are .
It would be wise to instruct a property lawyer now so that the conveyancer can open the file so they can conduct their ID checks etc. Once you wish them to commence work they will seek a deposit usually approximately £225. That would normally be once you have the mortgage offer and valuation results, however if you want to expedite the process you can get going sooner albeit risking some money.