I have given 8 weeks notice to my current landlord and have to leave my rented flat in Thame by the end of next month. Conveyancing for my house purchase is underway. Is it possible to complete in six weeks as don't want to have to find short term accommodation?
The normal practice is not to serve notice on a rental unless you have exchanged. If you have not already done so, contact to your solicitor and ask them to they cajole the sellers side, try to get a realistic time scale from them that all parties will aim to achieve
I own a freehold residence in Thame but still charged rent, why is this and what is this?
It is rare for properties in Thame and has limited impact for conveyancing in Thame 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 creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
Various web forums that I have frequented warn that are the primary cause of stalling in Thame conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any slowing down conveyancing in Thame.
How does conveyancing in Thame differ for new build properties?
Most buyers of new build property in Thame contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is completed. This is because builders in Thame 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 property lawyers 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 Thame or who has acted in the same development.
I decided to have a survey completed on a property in Thame ahead of retaining conveyancers. I have been informed that there is a flying freehold overhang to the house. My surveyor has said that some lenders will refuse to give a mortgage on such a property.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. If you contact us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Thame. Conveyancing may be slightly more expensive based on your lender's requirements.
On the look out for a conveyancing solicitor in Thame. I did have one sorted but they are not on the panel for Aldermore. It would appear that nowadays most mortgage companies only allow lawyers on their panel. Very frustrating restricting the choice for the paying public. Is it possible for you to refer me to a trustworthy Thame property lawyer that would help us as well as represent Aldermore?
LenderPanel.com is limited to being a directory service for conveyancers who wish to be listed as being on the approved conveyancing panel for Aldermore in certain areas such as Thame . We dont recommend any specific property lawyer.