I own a freehold premises in Lake but still charged rent, why is this and what is this?
It’s unusual for properties in Lake and has limited impact for conveyancing in Lake 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
My property lawyer in Lake is not on the Accord Mortgages Ltd Solicitor Panel. Is it possible for me to use my prefered solicitor even though they are not on the Accord Mortgages Ltd list of approved lawyers?
Your options are as follows:
- Carry on with your preferred Lake lawyers but Accord Mortgages Ltd will need to instruct a conveyancer on their panel. This will inevitably rack up the overall conveyancing fees as well as cause frustration.
- Get an alternative lawyer to act in the purchase, not forgetting to check they are Persuade your conveyancer to use their best endeavours to join the Accord Mortgages Ltd conveyancing panel
I am buying a new build house in Lake benefiting from help to buy. The sellers would not reduce the price so I negotiated 6k of additionals instead. The house builders rep suggested that I not to tell my solicitor about the side-deal as it would put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Lake is where the house is located. Can you shed any light on this issue?
Flying freeholds in Lake are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lake you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lake may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am using a search engine for the words cheap conveyancing in Lake it reveals many property lawyersin the vicinity. With so much choice what is the best way to find the suitable solicitor for me?
The ideal way of choosing the right conveyancer is via trusted testimonial, so ask colleagues and family who have bought a property in Lake or the respected estate agent or mortgage broker. Fees for conveyancing in Lake vary, so it's a good idea to obtain a minimum of three estimates from varying types of solicitors. Make sure that you know that the costs are assured not to to be inflated.
Our bank agreed in principle to give us a mortgage. We appointed a reputable conveyancer in Lake two days ago. Today, our mortgage adviser contacted us saying that the mortgage company said that we cannot use our solicitor as they aren't on their 'approved list'. As novices, we did not have a clue that the lender had a say Is this permitted?
You are permitted to appoint any conveyencer you want to use including the said conveyancer in Lake however if they are not on the your bank's panel you would have to pay additional cost so the bank can instruct their own lawyers. sometimes it is possible your solicitor may apply to get added to the bank panel. Do make the most of internet search facilities such as lenderpanel.com to find a conveyancing solcitor in Lake on the lender panel. You can go into your high street mortgage company branch in Lake. They will know some good conveyancing solicitors in Lake on the lender panel.