I require conveyancing for an apartment in a relatively new development (five years built) in Pelsall. 95% of the properties have already been sold. Do I need carry out the neighbourhood searches as part of conveyancing in Pelsall?
Where you are obtaining a mortgage, your mortgage company will require some (many) of the searches so you'll have no choice. If not, then Pelsall conveyancing searches are optional. Your solicitor, will ’encourage’, perhaps in the strongest possible terms, that you should not go ahead without searches, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you choose to instruct your lawyer to proceed without searches then your lawyer will have to follow your instructions or it may be necessary to find a new lawyer for your conveyancing in Pelsall.
I am the registered owner of a freehold premises in Pelsall but still pay rent, why is this and what is this?
It’s unusual for properties in Pelsall and has limited impact for conveyancing in Pelsall 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 generation of fresh rentcharges post 1977.
Previous 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 extinguished.
We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Does this mean I have to instruct their panel lawyer as I would prefer to instruct a Pelsall based conveyancing firm?
Do check but the the probability is that appoint one of their panel lawyers where you accept the "fee-free" incentive. Call the mortgage company and see if they offer you a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor near Pelsall.
I am looking for a leasehold apartment up to £235,500 and identified one close by in Pelsall I like with amenity areas and station in the vicinity, the downside is that it only has 61 years on the lease. There is not much else in Pelsall in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the shortness of the lease will likely be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this.
I'm refinancing my existing house to a BTL mortgage with Accord Mortgages Ltd and I will use the rest of the raised equity as a deposit on another property. The area we are talking about is Pelsall. Will your solicitors be able to act for the two banks and tie in the transactions?
Do use our comparison tool on this site to ensure that the solicitors are approved by both mortgage companies. Having checked that they are the conveyancer should be able to tie up the two deals but you should talk with you conveyancer and make apparent your expectations and needs.
Should I cancel my mortgage payments with Principality as soon as a completion date for my home sale in Pelsall has been set?
You are best advised to keep meeting any mortgage payments to Principality until the mortgage is redeemed on completion as part of your Pelsall conveyancing.