I am the registered owner of a freehold residence in Baldock yet invoiced for rent, why is this and what is this?
It is rare for properties in Baldock and has limited impact for conveyancing in Baldock 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 fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
My solicitor has informed me that flying freehold insurance is required on my purchase. What is the level of cover for Baldock conveyancing?
The right level of flying freehold indemnity insurance should be dictated by who your lender. It would differ for example between Yorkshire Building Society and Skipton Building Society. Conveyancing lawyers as opposed to members of the public take out such insurances.
I am selling my house. I had a double glazing fitted in September 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, UBS are being a right pain. The Baldock solicitor who is on the UBS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but UBS are requiring a building regulation certificate. Why do UBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that UBS have referred the matter to their valuer. The reason why UBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase house in Baldock. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide 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 Baldock conveyancer is on the Nationwide conveyancing panel.
Should my conveyancer be making enquiries concerning flooding as part of the conveyancing in Baldock.
Flooding is a growing risk for lawyers conducting conveyancing in Baldock. Plenty of people will purchase a house in Baldock, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, but there are a numerous searches that can be initiated by the buyer or by their conveyancers which should give them a better understanding of the risks in Baldock. The standard property information forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the seller to determine if the premises has historically flooded. In the event that flooding has previously occurred which is not disclosed by the vendor, then a buyer could issue a compensation claim stemming from an incorrect reply. A purchaser’s conveyancers should also commission an environmental search. This should disclose if there is a recorded flood risk. If so, more detailed investigations should be made.
We are 17 days into a leasehold purchase having been referred to conveyancers by the local agent to do our conveyancing in Baldock. I am not happy. Could you help me find new conveyancers?
A lawyer would have to be very bad in order to consider diss instructing them. Has the mortgage been sent? In the event that it has you need to inform them of the new solicitor and have the loan are issued to the new lawyers. Your new conveyancer needs to be on the banks approved list to avoid escalating expenses and delays. So that should be your starting point. Our search tool can help you find a lender approved solicitor for your conveyancing in Baldock
My conveyancers in Baldock have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the mortgage company. Is it case that being on the bank conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.