I purchased a freehold premises in Hurst but still invoiced for rent, why is this and what is this?
It is rare for properties in Hurst and has limited impact for conveyancing in Hurst 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 establishment of new rentcharges post 1977.
Previous 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.
A colleague informed me that in buying a property in Hurst there could be various restrictions prohibiting external changes to a property. Is this right?
We are aware of anumerous of properties in Hurst which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Hurst should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to lenders such as Bank of Ireland, do Hurst conveyancing practitioners face a fee to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
We were going to get a DIP from Co-operative this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Co-operative recommend any Hurst solicitors on the Co-operative conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Hurst solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.
I am intent on selling our home in Hurst and according to the buyers it appears that there is a risk of it being constructed on contaminated land. A local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using a nationwide conveyancing firm as opposed to a conveyancing solicitor in Hurst. Having lived in Hurst for three years we know of no issue. Do we get in touch with our local Authority to get clarification need.
It sounds as though you may have a conveyancing lawyer already. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
2 months have gone by following my purchase conveyancing in Hurst completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Hurst differ for newly converted properties?
Most buyers of new build residence in Hurst contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in Hurst tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Hurst or who has acted in the same development.
Why do Hurst conveyancing costs are higher for leasehold and freehold properties?
There is always increased work necessary in leasehold conveyancing. Hurst has many leasehold properties. There is more hours involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.