I own a freehold house in Stroud but still pay rent, why is this and what is this?
It’s unusual for properties in Stroud and has limited impact for conveyancing in Stroud 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 creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I have a decision in principle. The lender mentioned the loan came with free conveyancing. Does this mean I have to use their panel solicitor as I would much rather instruct a specialised conveyancing solicitor in Stroud?
Do check but the the likelihood is that appoint one of their panel solicitors where you accept the "fee-free" offer. Speak to the mortgage company to see if they offer you a cash alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Stroud.
Do commercial conveyancing searches disclose proposed roadworks that could impact a commercial premises in Stroud?
Its becoming the norm that commercial conveyancing solicitors in Stroud will order a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Stroud. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Stroud.
For every commercial conveyancing transaction in Stroud it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Stroud commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Stroud.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Stroud is the location of the property. Can you offer any assistance?
Flying freeholds in Stroud are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stroud you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stroud may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I need to instruct a conveyancing solicitor in Stroud for my house move. Is it possible to see a firm’s complaints history with the profession’s regulator?
One may review published Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Go to Check a solicitor's record. To find details Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The regulator sometimes recorded telephone calls for training requirements.
My nephew is about to join the property ladder, the home loan was agreed last week in principle. One the seller agreed the offer on the house we rang the mortgage institution to go forward with his. I was disappointed to hear that mortgage lenders do not accept all conveyancing practitioner, they need to be on their approved list, is this correct?
Banks tend to restrict either the type or the number of conveyancing practices on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Stroud solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.