I am the registered owner of a freehold residence in Dersingham but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Dersingham and has limited impact for conveyancing in Dersingham 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 creation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
My husband and I have organised the release of further funds on our home loan from Nationwide as we wish to carry out renovations to our home in Dersingham. Are we obliged to choose a bricks and mortar Dersingham solicitor on the Nationwide conveyancing panel to deal with the paperwork?
Nationwide would not normally instruct firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide list.
I am purchasing a property in Dersingham. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Clydesdale be concerned?
Given that your lender is Clydesdale your lawyer must check the formal instructions contained in Part 2 of UK Finance Lenders’ Handbook for Clydesdale. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and lawyers are required to report to Clydesdale where a lease fails to comply with these conditions. The provisions relate to the installation of panels on properties nationwide and is not isolated to Dersingham.
The mortgage over my property is with Kent Reliance for my property in Dersingham. Conveyancing has been completed months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
Your original mortgage agreement with Kent Reliance will provide that you need their approval before renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel solicitor.
How does conveyancing in Dersingham differ for new build properties?
Most buyers of new build residence in Dersingham approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is ready to move into. This is because new home sellers in Dersingham usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Dersingham or who has acted in the same development.
My husband and I are FTB’s - had an offer accepted, but the estate agent advised that the owners will only move forward if we instruct their preferred solicitors as they need an ‘expedited deal’. Our preferred option is to instruct a family solicitor accustomed to conveyancing in Dersingham
It is unlikely the sellers are driving this. Should the vendor desire ‘a quick sale', turning down a motivated purchaser is counter productive. Speak to the owners direct and explain that (a)you are genuine buyers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you intend to instruct your own,trusted Dersingham conveyancing lawyers - rather thanthe ones that will provide their estate agent a commission or meet his conveyancing thresholds demanded by HQ.
I have just appointed agents to market my basement apartment in Dersingham. Conveyancing is yet to be initiated, however I have recently received a yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is discharge the invoice as normal given that all rents and maintenance invoices should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Dersingham Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
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What is the name of the managing agents? How many of the leaseholders are in arrears for their maintenance charge payments?
I note that you have a post code search directory listing law firms on the bank conveyancing panel. Do Dersingham conveyancing firms pay you a referral fee if I retain them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Dersingham.