I purchased a freehold house in Radcliffe but nevertheless charged rent, why is this and what is this?
It is rare for properties in Radcliffe and has limited impact for conveyancing in Radcliffe 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 generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Radcliffe. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 12/9/2020, the requirements read as follows :
What does a local search reveal regarding the property I am buying in Radcliffe?
Radcliffe conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for example Xpress Legal The local search plays an important role in most Radcliffe conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your new home. The search will provide data on, amongst other things, details on planning applications applicable to the premises (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 areas.
I'm buying a new build house in Radcliffe with a loan from Skipton Building Society. The builders would not move on the amount so I negotiated 6k of extras instead. The estate agent advised me not disclose to my lawyer about the side-deal as it would adversely affect my loan with Skipton Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Due to the encouragement of my in-laws I had a survey completed on a house in Radcliffe ahead of appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some lenders tend refuse to grant a loan on a flying freehold house.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Radcliffe. Conveyancing may be slightly more expensive based on your lender's requirements.
We are 14 days into a leasehold purchase having been referred to a firm by the high street agent to carry out the conveyancing in Radcliffe. We are not happy. Could you you assist me in finding new lawyers?
They would need to be really bad to suggest diss instructing them. Has your mortgage offer been issued? If so you need to inform them of the new solicitor and ensure the offer are issued to the new lawyers. The solicitor ideally should be on the lenders approved list to avoid supplemental expenses and complications. That should be your starting point. Our search tool will assist you in finding a bank approved conveyancer for your home move in Radcliffe