I am the registered owner of a freehold house in Tunbridge Wells but still pay rent, why is this and what is this?
It is rare for properties in Tunbridge Wells and has limited impact for conveyancing in Tunbridge Wells 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 post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
I am thinking of refinancing my apartment in Tunbridge Wells, does my lawyer need to be on the Leeds Building Society Solicitor panel?
In theory, you could use a solicitor that is not on the Leeds Building Society conveyancing panel, but Leeds Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
A relative pointed out to me me that in purchasing a property in Tunbridge Wells there may be a number of restrictions affecting the ability to carry out external alterations to the property. Is this right?
We are aware of a number of properties in Tunbridge Wells which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Tunbridge Wells should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Are all Tunbridge Wells Conveyancing Quality Solicitors on the Barclays conveyancing panel?
It is true that some lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
We had selected solicitors based in Tunbridge Wells on the Lloyds solicitor approved list. They are now charging me an additional charge for dealing with the Lloyds mortgage. Is this an additional conveyancing fee set by Lloyds?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your conveyancer may charge a fee for this. The fee is not set by Lloyds but by your Tunbridge Wells property lawyer. Some firms on the Lloyds panel will quote ’dealing with mortgage’ fee but many practices incorporate it on their overall fee.
A relative recommended that where I am purchasing in Tunbridge Wells I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Tunbridge Wells conveyancing searches. It is not a small document of about 40 pages, listing and setting out significant information about Tunbridge Wells around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Tunbridge Wells Education with plans and statistics, Local Amenities and other useful information concerning Tunbridge Wells.
I am buying a new build house in Tunbridge Wells with the aid of help to buy. The developers refused to budge the price so I negotiated £7000 of extras instead. The house builders rep advised me not reveal to my conveyancer about this extras as it could affect my loan with the lender. 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.
In what way does the Landlord & Tenant Act 1954 impact my commercial offices in Tunbridge Wells and how can your lawyers assist?
The 1954 Act gives protection to business leaseholders, giving them the dueness to apply to court for a renewal tenancy and continue in occupation when the lease reaches an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in Tunbridge Wells