In the event thatI were to acquire a simple residential homein St James's mortgage fee and dispense with a survey and no conveyancing searches how much would I expect to have to pay for conveyancing in St James's?
The sole saving you would achieve is the St James's conveyancing searches. A conveyancer still be obliged to do everything else - money laundering, correspond with your vendors lawyer, stamp duty submission, register the property etc. A slight saving might be made by not needing to register a charge however it will not be meaningful.
I am the registered owner of a freehold property in St James's yet charged rent, why is this and what is this?
It’s unusual for properties in St James's and has limited impact for conveyancing in St James's 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 generation of fresh rentcharges post 1977.
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.
We previously selected conveyancing lawyers with offices in St James's on the HSBC solicitor panel. They have just invoiced me a supplemental sum for the legal aspects of the HSBC mortgage. Is this an additional conveyancing fee specified by HSBC?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer can charge a fee for this. The fee is not set by HSBC but by your St James's conveyancer. Numerous firms on the HSBC panel will quote an ‘acting for lender’ fee and others do not.
I have paid off my mortgage with Principality. I assume I don't need a St James's property lawyer on the Principality panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
I was told four weeks ago that my mortgage has been agreed to by Kent Reliance. Is it usual for Kent Reliance to only issue the offer once my solicitor in St James's is approved on their conveyancing panel? Kent Reliance have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Kent Reliance to deal with your lawyer's application to be on the Kent Reliance conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have todayfound out that Stirling Law have closed. They carried out my conveyancing in St James's for a purchase of a leasehold apartment 10 months ago. How can I check that the property is not still registered in the name of the former proprietor?
The easiest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of St James's conveyancing specialists.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one near me in St James's I like with a park and transport links in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in St James's in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term may be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
My cousin has urged me to appoint his conveyancers in St James's. Should I find my own solicitor?
No doubt the ideal way to choose a conveyancing solicitor is to have guidance from friends or family who have used the firm that you are are thinking of instructing.