I am the registered owner of a freehold residence in Finchley but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Finchley and has limited impact for conveyancing in Finchley 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 one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
What happens if my lawyer’s firm is removed from the Yorkshire BS Solicitor panel ahead of completing my conveyancing in Finchley?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Can you point me to a directory of Principality panel conveyancers in Finchley on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association websites. A small selection of lending institutions make their panel listings open the public over the internet. Where you are looking for a Finchley lawyer on the Principality please use our facility.
I'm in the process of viewing apartments in Finchley and I am now considering a potential offer. Should I already have a solicitor appointed at this stage? I intend to finance via a mortgage with HSBC.
It would be prudent to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. As you are seeking a mortgage with HSBC, make sure you remember to check that your lawyer is on the HSBC conveyancing panel.
I was told two weeks ago that my mortgage has been agreed to by Co-operative. Is it usual for Co-operative to only issue the offer once my solicitor in Finchley is approved on their conveyancing panel? Co-operative have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Co-operative to deal with your lawyer's application to be on the Co-operative conveyancing panel. There's no guarantee that your solicitor will be accepted.
Due to the input of my in-laws I had a survey completed on a property in Finchley ahead of instructing lawyers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some mortgage companies may refuse to issue a loan on a flying freehold property.
It varies from the lender to lender. Santander has different requirements from Halifax. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Finchley. Conveyancing will be smoother if you use a solicitor in Finchley especially if they are acquainted with such properties in Finchley.
I am looking into buying my first house which is in Finchley and I am already nervous. I couldn't find anything specific about Finchley. Conveyancing will be needed in due course but do you know about the Finchley area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Finchley. In the meantime here are some basic statistics that we found
Sixweeks into buying a house in Finchley. Conveyancing solicitor has told us the title is "Leasehold". Does this make a difference on the marketability of the property?
Finchley conveyancing does not usually involve leasehold houses. The main consideration here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's almost the same as freehold, so it’s unlikely to impact the saleability too much.
At the other extreme, if it's, say, Sixty years it is bound to have a adverse effect on the saleability, and probably wouldn't be mortgageable. The remaining lease term and ground rent will be stated in the lease which should be made available to your lawyer.