I own a freehold residence in Allestree but nevertheless pay rent, why is this and what is this?
It is rare for properties in Allestree and has limited impact for conveyancing in Allestree 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Previous 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.
Do I have to have a meeting at the offices of the solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Allestree so that I can pop in to their offices when needed.
As opposed to ten years ago, most lenders no longer need their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to supply identification documents and there are still manifest advantages to choosing a local ayer, in your situation a conveyancing solicitor in Allestree.
I purchased my home on 13 March and my personal details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Allestree said it will be registered in a couple of weeks. Are transfers in Allestree uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Allestree registration formalities. Rather than based on location, timeframes can differ according to who lodges the application, whether it is in order and if the Land registry have to notify any third parties. At present approximately three quarters of submission are fully addressed within 12 days but some can be subject to longer hold-ups. Historically registration takes place once the purchaser has moved in to the premises thus an expedited registration is not typically top priority but where there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Allestree differ for newly converted properties?
Most buyers of new build residence in Allestree approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Allestree typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Allestree or who has acted in the same development.
I'm selling a house in Allestree. I can find my conveyancer's company on the CLC list, but I can't see my conveyancer's name on the list. Is this a big problem?
Not all staff in the practice must be listed by the regulator. Provided there is someone qualified to 'oversee' the work, the actual day-to-day activity can be undertaken by unqualified staff.