I own a freehold residence in Bakewell but still pay rent, why is this and what is this?
It is rare for properties in Bakewell and has limited impact for conveyancing in Bakewell 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment 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 after 2037 is to be dispensed with completely.
My fiance and I are purchasing a newly converted apartment in Bakewell with a loan from The Royal Bank of Scotland.We use our Bakewell conveyancing solicitor but The Royal Bank of Scotland informed us she’s not on their approved list of firms. We have to appoint a The Royal Bank of Scotland panel firm or keep our local solicitor and fork out for a The Royal Bank of Scotland panel lawyer to represent them. This seems very unfair; Can we not simply insist that The Royal Bank of Scotland use our lawyer?
No, not really. The loan offered to you is subject to its terms and conditions, one of which will be that solicitors will be on the The Royal Bank of Scotland approved list. Until recently, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for The Royal Bank of Scotland
I am buying a house and the conveyancer has identified Chancel Repair to which the property may be obligated to pay because it falls into the area of such a church. She has mentioned insurance. Is this strictly appropriate for conveyancing in Bakewell
Unless a prior purchase of the house took place after 12 October 2013 you could expect conveyancing practitioners conducting conveyancing in Bakewell to remain encouraging a chancel search and or insurance against a claim.
It has been 2 months following my purchase conveyancing in Bakewell concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm converting the mortgage on my current house to a BTL loan with Platform Home Loans Ltd and I will use the rest of the raised equity as a down payment on another house. The area we are interested in is Bakewell. Will your solicitors be able to act for the two lenders and link together the conveyances?
Do use our comparison tool on this site to be sure that the lawyers are on the relevant lender panels. On the basis that they are your conveyancer should be able to connect the two transactions but you should talk with you solicitor and communicate your expectations and needs.