I own a freehold property in Windermere yet pay rent, why is this and what is this?
It’s unusual for properties in Windermere and has limited impact for conveyancing in Windermere 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 date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I am considering applying for a Aldermore mortgage for purchase of a new build (under development) in Windermere with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Aldermore ?
In theory, you could use a solicitor that is not on the Aldermore conveyancing panel, but Aldermore 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.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Windermere?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Windermere. 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…’
I am purchasing a new build house in Windermere with the aid of help to buy. The sellers would not budge the amount so I negotiated £7000 of additionals instead. The property agent suggested that I not reveal to my conveyancer about the side-deal as it could affect my loan with Alliance & Leicester . 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'm remortgaging my primary home to a buy to let mortgage with Britannia and I will use the ballance of the raised equity towards further property. The area we are interested in is Windermere. Will your lawyers be able to act for both sets of mortgage companies and link together the conveyances?
Do use our search tool on this site to ensure that the conveyancers are approved by both mortgage companies. On the basis that they are your solicitor will be able to connect the two transactions but you should have a chat with you conveyancer and make apparent your expectations and requirements.
Am I better off to go with a Windermere conveyancing lawyer who is local to the property I am hoping to buy? I have an old university friend who can conduct the legal formalities however his firm is located approximately 350miles away.
The primary upside of using a local Windermere conveyancing firm is that you can pop in to execute paperwork, hand in your ID and pester them where appropriate. They will also have local insight which is a plus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and the majority were happy that should trump using an unfamiliar Windermere conveyancing solicitor solely due to them being local.