Me and my partner are intending to purchase a 3 bedroom flat in Ringmer with a mortgage. We like our Ringmer lawyer, however the bank says she’s not on their "panel". It seems we have no choice but to select one of the mortgage company panel firms or retain our Ringmer conveyancing practitioner as well as pay for one of their panel ones to act for them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Ringmer conveyancing solicitor to apply to be on the conveyancing panel.
I purchased a freehold property in Ringmer but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Ringmer and has limited impact for conveyancing in Ringmer 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 creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Various web forums that I have frequented warn that are a common cause of obstruction in Ringmer house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Searches are not likely to be the root cause of delay in conveyancing in Ringmer.
My wife and I own a terraced Georgian house in Ringmer. Conveyancing practitioner acted for me and Platform Home Loans Ltd. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the matching property. Is it worth asking Platform Home Loans Ltd to clarify?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ringmer and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing lawyer who carried out the work.
Over the last few months I have been searching for a flat up to £245,000 and found one close by in Ringmer I like with open areas and railway links nearby, however it only has 49 remaining years left on the lease. I can't really find anything else in Ringmer in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan the remaining unexpired lease term will be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
In what way does the Landlord & Tenant Act 1954 impact my business premises in Ringmer and how can your lawyers assist?
The particular law that you refer to provides security of tenure to business leaseholders, granting the right to make a request to court for a new tenancy and continue in occupation when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act for protection and handle your commercial conveyancing in Ringmer