I purchased a freehold premises in Hampshire but still charged rent, why is this and what is this?
It is rare for properties in Hampshire and has limited impact for conveyancing in Hampshire 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
How do I investigate if the solicitor conducting my conveyancing in Hampshire is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Santander thus paying £175.00 in supplemental legal costs.
Feel free to make use of the find a lender approved solicitor tool on this web page. Please choose the mortgage company and type ‘Hampshire’ or your location and you will discover numerous solicitors based in Hampshire or nearest you.
Can you point me to a directory of Kent Reliance panel solicitors in Hampshire on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. A small selection of lending institutions make their panel listings available on the web. If you are in need of a Hampshire conveyancer on the Kent Reliance please use our tool.
My wife and I are at the point of viewing houses in Hampshire and I am now considering a potential offer. Should I already have a lawyer in place at this point? I intend to finance via a mortgage with Virgin Money.
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are taking out a mortgage with Virgin Money, ask your prospective lawyers if they are on the Virgin Money conveyancing panel otherwise they can't do the mortgage legal work.
After months of negotiation I have agreed a price on a house in Hampshire. My financial adviser recommended their conveyancers. I paid an upfront payment of £175. A few days later, the property lawyer called me sheepishly admitting that they were not on the Coventry BS 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 Coventry BS 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.
The deeds to my house are lost. The solicitors who conducted the conveyancing in Hampshire 5 years ago are no longer around. What are my next steps?
You no longer need to have the physical deeds to establish that you are the registered proprietor of land or premises, as the Land Registry have everything they need in a digital format.
Is it simple use your search app to select a conveyancing lawyer in Hampshire on the panel for my bank?
First select a lender such as Halifax, Norwich and Peterborough Building Society or Nottingham Building Society then specify your preferred area e.g. Hampshire. Conveyancing organisations in Hampshire and beyond will then be listed.
I am short of a 10% deposit on my house purchase in Hampshire , but I am keen proceed. What can I do?
One option is to try and agree a smaller deposit. Many vendors will agree to a lesser 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