I purchased a freehold residence in Thornaby on Tees but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Thornaby on Tees and has limited impact for conveyancing in Thornaby on Tees 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 establishment of new 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 post 2037 is to be extinguished.
I happen to be the only recipient of my late mum's will and I have everything in my name alone, including the my former home in Thornaby on Tees. The Thornaby on Tees property was put into my name in March. I want to move. I understand that there is a CML 6 month 'rule', which means that my proprietorship could be treated the same way as though I had purchased the house in March. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. Most banks would take a practical view as this obligation is principally there to identify the purchase and immediately sell or the wholesaling and assigning of properties.
Are all Thornaby on Tees Conveyancing Quality Solicitors on the Clydesdale conveyancing panel?
It is true that some lenders now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
I have decided to exercise my right to buy my property in Thornaby on Tees off the council. I have a mortgage offer with Lloyds. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
Are there restrictive covenants that are commonly picked up during conveyancing in Thornaby on Tees?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Thornaby on Tees. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
About to purchase a new build flat in Thornaby on Tees. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Thornaby on Tees
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
Is it best to choose a Thornaby on Tees conveyancing solicitor based in the vicinity that I am purchasing? I have an old university friend who can carry out the conveyancing however her office is 400miles drive away.
The benefit of a high street Thornaby on Tees conveyancing firm is that you can drop in to execute documents, present your identification documents and pester them where appropriate. Having local Thornaby on Tees know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and the majority were impressed that must outweigh using an unfamiliar Thornaby on Tees conveyancing lawyer just because they are round the corner.
What type of property do your Thornaby on Tees conveyancing estimates relate to?
Our conveyancing quotes are only applicable to standard residential homes in England & Wales. If you have any different requirements such as industrial or agricultural land or commercial conveyancing in Thornaby on Tees you should telephone us to address this further .