I have just been advised by my lender that my Gnosall solicitor is not on the lender Conveyancing panel. What can I do to be sure that this is correct?
You need to contact your Gnosall lawyer directly. You lawyer should advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
I own a freehold house in Gnosall yet pay rent, why is this and what is this?
It is rare for properties in Gnosall and has limited impact for conveyancing in Gnosall 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 fresh rentcharges post 1977.
Previous 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 extinguished.
I have an AIP. The bank mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would much rather appoint a specialised conveyancing solicitor in Gnosall?
You should check but the chances are that appoint one of their panel conveyancers where you want the "fee-free" offer. Call the mortgage company to see if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Gnosall.
My relative advised me that where I am purchasing in Gnosall I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Gnosall conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Gnosall around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data regarding Gnosall.
I am purchasing my first flat in Gnosall benefiting from help to buy. The developers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not disclose to my solicitor about this side-deal as it may impact my loan with Nottingham Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I opted to have a survey done on a property in Gnosall ahead of instructing solicitors. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some banks may refuse to give a loan on a flying freehold home.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Gnosall. Conveyancing may be slightly more expensive based on your lender's requirements.