I own a freehold house in Gamlingay but still charged rent, why is this and what is this?
It’s unusual for properties in Gamlingay and has limited impact for conveyancing in Gamlingay 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 new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
My fiance and I decided to purchase a 2 bedroom apartment in Gamlingay with a homeloan from Lloyds TSB Bank.We use our Gamlingay conveyancing practitioner but Lloyds TSB Bank advised that he's not on their approved list of firms. We have to appoint a Lloyds TSB Bank panel firm or retain our high street solicitor and fork out for a Lloyds TSB Bank panel lawyer to act for them. This seems very unfair; is there anything we can do?
No, not really. The loan issued to you contains terms and conditions, one of which will be that conveyancers will be on the Lloyds TSB Bank approved list. Until recently, most banks had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Lloyds TSB Bank
I am buying my first flat in Gamlingay benefiting from help to buy. The builders refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not inform my conveyancer about the extras as it may adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one close by in Gamlingay I like with open areas and station in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in Gamlingay for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan the remaining unexpired lease term will likely be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
What makes your site different to alternative online quote calculators when it comes to conveyancing in Gamlingay?
At this site secure an accurate quote via a Solicitor or Licensed Conveyancer that understands the issues for your conveyancing in Gamlingay. As opposed to estate agents and brokerage sites we do not have referral arrangements with solicitors. A large number of agents and online brokers 'recommend' the firm that pays the most commission, as opposed to the best value conveyancing in Gamlingay
I am 18 days into a residential purchase having been referred to conveyancers by the estate agent to execute conveyancing in Gamlingay. We are not happy. Can you you assist me in finding new conveyancers?
They would need to be really poor in order to consider changing them. Has your loan offer been issued? If so you must advise them of the new solicitor and ensure the mortgage documents are re-issued. Your conveyancer needs to be on the lenders approved list to avoid supplemental expenses and complications. That should be your starting point. Our find a solicitor tool can help you find a lender approved conveyancer for your conveyancing in Gamlingay