I am the registered owner of a freehold property in Ferndown but still pay rent, why is this and what is this?
It is rare for properties in Ferndown and has limited impact for conveyancing in Ferndown 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 establishment of new rentcharges post 1977.
Old 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.
We're in Ferndown, First time buyers buying with a mortgage (lender is Lloyds , and our solicitor is on the Lloyds conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Lloyds conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
We are purchasing a flat in Ferndown. I might seem paranoid but how we can trust a lawyer? On the day of competition we will need to put our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
If you had a top tip for choosing a conveyancing solicitor in Ferndown what would it be?
Do not opt for the lowest Ferndown conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
After weeks of negotiation I have agreed a price on an apartment in Ferndown. My financial adviser recommended their conveyancers. I paid an upfront payment of £200. Shortly after, the solicitor called me sheepishly admitting that they were not on the TSB 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 TSB 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.
I decided to have a survey carried out on a property in Ferndown prior to instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some lenders may refuse to grant a loan on a flying freehold property.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. Should you wish to telephone us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Ferndown. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ferndown to see if the conveyancing will be more expensive.
My husband and I are four weeks into a leasehold purchase having been referred to conveyancers by the high street agent to do our conveyancing in Ferndown. I am am very frustrated with the level of service. Can you help me find new lawyers?
A lawyer would have to be very poor to suggest changing them. Has your loan offer been sent? In the event that it has you must advise them of the new contact details and get the loan are re-issued. Your conveyancer should be on the banks approved list to avoid escalating fees and complications. So that should be your starting point. Our find a solicitor tool will assist you in finding a bank approved solicitor for your conveyancing in Ferndown
I'm purchasing a bungalow in Ferndown. I can find my conveyancer's company on the Law Society's list, but I can't locate my lawyer's name as listed on the regulator's website. Should I be concerned?
Not all staff in the law firm must be listed by the regulator. Provided there is someone qualified to 'oversee' the transaction, the actual day-to-day activity can be conducted by unlicensed staff.