I purchased a freehold residence in Holsworthy but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Holsworthy and has limited impact for conveyancing in Holsworthy 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 establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I am aiming to move property in March. Should my conveyancing solicitor update the removal company on the completion day. As an aside, can you suggest a removal company in Holsworthy. Conveyancing solicitor was chosen prior to coming across this website.
On the afternoon of completion you can pick up the house keys from your estate agent but this should only happen once the sellers conveyancers inform the agent that they have the completion monies and the keys can be collected. You will need to inform the removal company that you are ready to move in. We are not in a position to suggest a particular removal organisation but can assist you in locating a residential property solicitor in Holsworthy or a legal practice that specialises in conveyancing in Holsworthy.
I am the sole recipient of my late mum's will and I have everything in my name alone, including the my former home in Holsworthy. The Holsworthy property was put into my name in December. I plan to dispose of the house. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership will be treated the same way as if I'd bought the property in December. Will no one buy the property for half a year?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. How sensible a view banks take of it, depend on the bank as this provision primarily exists to identify subsales or the wholesaling and assigning of property.
I can not fathom if my mortgage offer requires a lease extension. I have called my Holsworthy bank branch on a couple of occasions and was told they are content with the situation and they will lend. My Holsworthy conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend based on their published requirements. I simply don't know who is right.
As long as the conveyancer is on the mortgage company approved list, they must adhere to the Council of Mortgage Lenders’ Handbook requirements 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 remaining.
The deeds to our property are lost. The solicitors who dealt with the conveyancing in Holsworthy 10 years ago no longer exist. What are my options?
Gone are the days when you need to hold title official documentation to establish that you are the owner of your registered land or premises, given that the Land Registry have everything they need in a digital format.
I am buying my first flat in Holsworthy with a mortgage from TSB. The developers would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not reveal to my solicitor about the extras as it will affect my mortgage with the bank. 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.
My husband and I are a fortnight into a leasehold purchase having been recommend to solicitors by the estate agent to carry out the conveyancing in Holsworthy. We are not happy. Could you you assist me in finding new conveyancers?
A solicitor would have to be really bad in order to consider replacing them. Has your mortgage offer been issued? If so you need to make them aware of the new contact details and get the mortgage documents are re-issued. The solicitor ideally needs to be on the banks panel to avoid escalating fees and complications. So that should be your first question of the new conveyancers. The search tool can assist you in finding a bank approved conveyancer for your home move in Holsworthy
What is the reason for my lawyer requiring numerous items of ID before they can commence with selling or purchasing a property in Holsworthy?
Holsworthy property lawyers are obliged by the Law Society, Solicitors Regulation Authority, HMLR and current AML Regulations to record that the have checked the identity of their clients. It is also sometimes a condition of your mortgage offer. In addition they have to complete various forms, particularly those relating to SDLT and need to have details such as your full names, NI number and DOB.