I am the registered owner of a freehold house in Exeter but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Exeter and has limited impact for conveyancing in Exeter 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 many centuries, but the Rent Charge Act 1977 barred the creation of new 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 after 2037 is to be extinguished.
Can you point me to a directory of Co-operative panel conveyancers in Exeter on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. Very few lending institutions make their panel listings open the public on the web. If you are in need of a Exeter property lawyer on the Co-operative please use our facility.
I am due to exchange contracts on my apartment. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Bank of Ireland are being problematic. The Exeter solicitor who is on the Bank of Ireland conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
After what seems like an age I have had an offer on a maisonette in Exeter agreed to, but there is a chain. The owners have offered on a flat, but it’s not yet agreed to, and are looking at other flats booked. I have selected a nearby conveyancing solicitor in Exeter. What do I do now? At what stage do I apply for the mortgage with RBS?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is approx one thousand pounds, then survey, Exeter conveyancing search costs, etc). First, you must ensure that your property lawyer is on the RBS conveyancing panel. Concerning the subsequent steps this very much depends on the circumstances of your transaction, attraction to this property and on the state of the market. During a hot market many buyers would apply for a home loan with RBS and pay for the valuation and only if it comes back ok would they pay their property lawyer to move forward with the conveyancing in Exeter.
Various internet forums that I have come across warn that are the main cause of stalling in Exeter conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of delay in conveyancing in Exeter.
I used Stirling Law several years ago for my conveyancing in Exeter. Now, I need the files but the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Exeter of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Over the last few months I have been searching for a flat up to £235,500 and found one close by in Exeter I like with open areas and transport links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Exeter for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan that many years may be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
We are in the process of a leasehold sale of a flat in Exeter. Conveyancing is fine but we are being charged an extortionate amount from the managing agents. So far we have issued a cheque for £225 for a leasehold management pack and then another £200 plus VAT for answers to queries supplied by the buyers conveyancing practitioner.
Neither you or your lawyer will have any sway over the extent of the bill for this information however the average costs for the information for Exeter leasehold property is £360. For Exeter conveyancing transactions it is conventional for the vendor to cover the costs. The landlord or their agents are not duty bound to address such questions although many will be willing to do so - albeit often at exorbitant prices out of proportion to the work involved. Regretfully there is no law that mandates set fees for administrative tasks. Nor is there any statutory time limit by which they are duty bound to supply answers.