I own a freehold residence in West Norwood yet charged rent, why is this and what is this?
It’s unusual for properties in West Norwood and has limited impact for conveyancing in West Norwood 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 extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I am buying a right to buy a flat in West Norwood. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in West Norwood you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in West Norwood.
We are purchasing a property in West Norwood. It might be a silly question but how we can trust a lawyer? At some point we will need to put funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is the difference between a licensed conveyancer and conveyancing solicitor in West Norwood
There are two types of lawyers who can carry out conveyancing in West Norwood namely licenced conveyancers or solicitors. The two can provide the legal services that you need to complete the disposal or acquisition of property. They are both required to conduct West Norwood conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be properly conducted and that all requisite procedures will be suitably attended to.
My father pointed out to me me that in purchasing a property in West Norwood there could be various restrictions prohibiting external alterations to a property. Is this right?
We are aware of anumerous of properties in West Norwood which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in West Norwood should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We are buying a house and the solicitor has referenced Chancel Repair to which the house may be liable because it falls into the area of such a church. She has suggested insurance. Is this really required for conveyancing in West Norwood
Unless a previous acquisition of the property took place after 12 October 2013 you can expect solicitors delivering conveyancing in West Norwood to remain encouraging a chancel search and or insurance against a claim.
I am buying a new build house in West Norwood with the aid of help to buy. The sellers refused to budge the amount so I negotiated 6k of additionals instead. The house builders rep advised me not reveal to my solicitor about the extras as it could adversely affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I opted to have a survey done on a property in West Norwood prior to instructing conveyancers. I have been informed that there is a flying freehold aspect to the house. The surveyor advised that some lenders tend not grant a mortgage on a flying freehold house.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in West Norwood. Conveyancing will be smoother if you use a solicitor in West Norwood especially if they regularly deal with such properties in West Norwood.