I own a freehold premises in Patcham but nevertheless charged rent, why is this and what is this?
It is rare for properties in Patcham and has limited impact for conveyancing in Patcham 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
We are buying a property in Patcham. It might be a silly question but how we can trust a lawyer? On the day of competition we have to put our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My fiancee and I are in the process of viewing apartments in Patcham and I am now considering a potential offer. Is it sensible to have my lawyer on ‘stand by’? I intend to finance via a home loan with Skipton.
It would be prudent to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are taking out a mortgage with Skipton, make sure you remember to check that your lawyer is on the Skipton conveyancing panel.
I am currently in the process of buying my council flat in Patcham. I have a mortgage offer with UBS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with UBS, you will need to appoint a solicitor on the UBS conveyancing panel.
What will a local search reveal about the house we're purchasing in Patcham?
Patcham conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for example Searches UK The local search plays an important role in most Patcham conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
How does conveyancing in Patcham differ for newly converted properties?
Most buyers of new build residence in Patcham approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Patcham 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 conveyancing solicitors 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 Patcham or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in Patcham prior to instructing conveyancers. I have been informed that there is a flying freehold element to the house. The surveyor has said that some banks will refuse to issue a loan on such a house.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. If you contact us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Patcham. Conveyancing may be slightly more expensive based on your lender's requirements.
What advice can you give us when it comes to appointing a Patcham conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Patcham conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Patcham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:
What are the charges for lease extension conveyancing?
Patcham Leasehold Conveyancing - Examples of Questions you should ask before Purchasing
Are there any major works anticipated that will likely increase the service charges? What is the the remaining lease term? How much is the ground rent and service charge?