I purchased a freehold premises in Reddish yet pay rent, why is this and what is this?
It’s unusual for properties in Reddish and has limited impact for conveyancing in Reddish 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I am planning to acquire a flat and need a conveyancing solicitor in Reddish who is on the Clydesdale approved. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Clydesdale in certain locations such as Reddish. We dont recommend any particular firm.
My wife and I have arranged the release of further funds on our home loan from Lloyds as we want to carry out a loft conversion to our home in Reddish. Are we obliged to select a nearby Reddish solicitor on the Lloyds conveyancing panel to deal with the paperwork?
Lloyds do not ordinarily instruct a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds list.
I had a mortgage agreed in principle with Barclays. Reddish conveyancing lawyers were appointed. How long does it take for Barclays to issue the offer to the lawyer?
Some lenders take longer than others. Have Barclays done the survey? Have you informed Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am expecting a DIP from Kent Reliance this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Kent Reliance recommend any Reddish solicitors on the Kent Reliance conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Reddish solicitors independently although you'll need to choose one on the Kent Reliance conveyancing panel. The solicitor represents both you and Kent Reliance through the process.
How does conveyancing in Reddish differ for new build properties?
Most buyers of new build property in Reddish come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is finished. This is because builders in Reddish typically 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 accustomed to new build conveyancing in Reddish or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Reddish before instructing solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some banks will not give a mortgage on this type of property.
It varies from the lender to lender. HSBC has different instructions for example to Nationwide. Should you wish to telephone us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Reddish. Conveyancing will be smoother if you use a solicitor in Reddish especially if they are accustomed to such properties in Reddish.
My estate agent has recommended their lawyer for our conveyancing in Reddish - Surely it’s easier to just instruct them?
It is worth checking if the estate agent is recommending a conveyancing practitioner or introducing to a conveyancer. There are plenty of Reddish selling agents who recommend two or three Reddish conveyancing firms and get nothing from it.