I am hoping to receive a offer of a home loan from Halifax. I hope to employ the services of a Licensed Conveyancer in Towcester. Does the Halifax Conveyancing panel allow for Licensed Conveyancers?
The Halifax approved solicitor list is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I purchased a freehold house in Towcester yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Towcester and has limited impact for conveyancing in Towcester 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 fresh 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 is to be extinguished.
Various internet forums that I have come across warn that are the number one cause of delay in Towcester conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Towcester.
I'm purchasing a new build house in Towcester with the aid of help to buy. The developers would not move on the price so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not inform my lawyer about the deal as it may adversely affect my mortgage with Nottingham Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a simple, no chain conveyancing. Towcester is the location of the property. Can you shed any light on this issue?
Flying freeholds in Towcester are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Towcester you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Towcester may determine 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 premises.
My husband and I are FTB’s - had an offer accepted, yet the property agent informed us that the vendor will only go ahead if we use their recommended conveyancers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer accustomed to conveyancing in Towcester
It is highly unlikely the owners are driving this. Should the owner want ‘a quick sale', taking such a hostile approach to a motivated purchaser is is going to put the whole deal at risk. Speak to the owners direct and make sure they comprehend that (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you intend to use your preferred Towcester conveyancing firm - not the ones that will give the negotiator at the agency a referral fee or meet his conveyancing thresholds pre-set by corporate headquarters.