I am the registered owner of a freehold house in Yorkshire Dales yet charged rent, why is this and what is this?
It’s unusual for properties in Yorkshire Dales and has limited impact for conveyancing in Yorkshire Dales 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 establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
Please explain the implications if my lawyer’s firm is expelled from the Santander Conveyancing panel ahead of completing my conveyancing in Yorkshire Dales?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
is it true that all Yorkshire Dales conveyancing solicitors on the Nottingham conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Nottingham approved list of solicitors they would need to be overseen by the SRA. The majority of lenders do allow licenced conveyancers on their panel and in that case the organisation would be overseen by the CLC.
We previously selected conveyancers located in Yorkshire Dales on the RBS solicitor approved list. They have just invoiced me a separate charge for dealing with the RBS mortgage. Is this a supplemental conveyancing fee specified by RBS?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your conveyancing practitioner can charge a fee for this. This fee is not set by RBS but by your Yorkshire Dales property lawyer. Plenty of firms on the RBS panel will quote an ‘acting for lender’ fee but many firms incorporate it on their overall fee.
Planning on purchasing a maisonette in Yorkshire Dales. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Yorkshire Dales lawyer is on the Skipton conveyancing panel.
Is it necessary to take out insurance to cover chancel repairs when purchasing a house in Yorkshire Dales?
Unless a prior acquisition of the premises completed after 12 October 2013 you could expect solicitors carrying out conveyancing in Yorkshire Dales to remain encouraging a chancel search and or chancel repair liability policy.
I have been on the look out for a flat up to £235,500 and found one near me in Yorkshire Dales I like with a park and railway links in the vicinity, however it only has 51 years unexpired on the lease. I can't really find anything else in Yorkshire Dales suitable, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
I am purchasing a maisonette mortgage free. I have provided lawyer with 2 separate evidence of photo identification, bank statement, multiple utility bills. Now he requires a copy from a probate lawyer acknowledging that the money is in place and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Yorkshire Dales conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.