I am the registered owner of a freehold house in Mountsorrel yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Mountsorrel and has limited impact for conveyancing in Mountsorrel 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 new 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 after 2037 will be dispensed with completely.
I am purchasing a garden flat in Mountsorrel. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Mountsorrel you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Mountsorrel.
I require quick conveyancing in Mountsorrel as I have a deadline to exchange contracts within 2 weeks. A mortgage is not required. Can I avoid the conveyancing searches to save money and time?
As you are not getting a home loan you are at free not to have searches carried out although no solicitor would recommend that you don't. Drawing on our experience of conveyancing in Mountsorrel the following are instances of issues that can be revealed and adversely affect market value: Enforcement Actions, Overdue Charges, Overdue Grants, Railway Schemes,...
The deeds to my house are lost. The lawyers who handled the conveyancing in Mountsorrel 5 years ago have long since closed. What are my next steps?
You no longer need to hold title deeds to prove you own the land or property, given that the Land Registry hold details of all registered land or property electronically.
How does conveyancing in Mountsorrel differ for newly converted properties?
Most buyers of new build or newly converted property in Mountsorrel approach us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because builders in Mountsorrel usually 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 conveyancers 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 accustomed to new build conveyancing in Mountsorrel or who has acted in the same development.
I decided to have a survey completed on a house in Mountsorrel before appointing lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies may not issue a loan on a flying freehold home.
It varies from the lender to lender. HSBC has different requirements from Halifax. Should you wish to call us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Mountsorrel. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Mountsorrel to see if the conveyancing costs will increase in light of this.