I was informed today by my mortgage broker that my Halstead lawyer is not on the lender Solicitor panel. What can I do to be sure whether this is correct?
Your first step should be to contact your Halstead lawyer directly. You lawyer should notify you what has happened. Where 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 residence in Halstead but still pay rent, why is this and what is this?
It is rare for properties in Halstead and has limited impact for conveyancing in Halstead 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 generation of new 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 dispensed with completely.
I have today made my last payment due on my mortgage with Kent Reliance. I assume I don't need a Halstead conveyancer on the Kent Reliance panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Kent Reliance mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Kent Reliance mortgage from the register. Kent Reliance, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Kent Reliance has sent the Land Registry the discharge electronically, and
- Kent Reliance has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Halstead. I have a mortgage offer with Lloyds. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I can not fathom if my lender requires a lease extension. I have called my Halstead building society branch on numerous occasions and was reassured it wasn't an issue and they would lend. My Halstead conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend in accordance with their published requirements. I have no idea who is right.
As long as the conveyancing practitioner is on the bank approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have been on the look out for a flat up to £245,000 and identified one close by in Halstead I like with a park and railway links in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in Halstead for this price, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the shortness of the lease may be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
Taking into account that I will soon part with £400,000 on a house in Halstead I would like to have a conversation with the lawyer concerning thehouse move before instructing the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor due to be doing your property ownership legalities in Halstead.There is no ‘factory style conveyancing’ - every client is an important individual, not a file number. The solicitors that we put you in touch with believe that the figure you are quoted for your conveyancing in Halstead should be the amount on the final invoice that you end up paying.
I am short of a 10% deposit on my apartment purchase in Halstead , but I am anxious proceed. Do I have options?
You can agree a lesser deposit. Many sellers will accept a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second