I own a freehold house in Barrow In Furness yet pay rent, why is this and what is this?
It is rare for properties in Barrow In Furness and has limited impact for conveyancing in Barrow In Furness 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
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 extinguished.
My wife and I have recently appointed a conveyancing solicitor in Barrow In Furness. I need to find out whether they are on the Godiva Mortgages Ltd conveyancing panel. Can you or the lender confirm if they are on the panel?
You should phone the conveyancer and ask them if they can act for the lender. Alternatively please call Godiva Mortgages Ltd who may be able to help.
If you had a top tip for selecting a conveyancing solicitor in Barrow In Furness what would it be?
It would be unwise to be swayed by the lowest Barrow In Furness conveyancing costs illustration. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We had instructed conveyancers locally in Barrow In Furness on the UBS solicitor approved list. They have just billed me a further charge for the legal aspects of the UBS mortgage. Is this a supplemental conveyancing fee set by UBS?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your conveyancing practitioner can levy a fee for this. This fee is not dictated by UBS but by your Barrow In Furness property lawyer. Some firms on the UBS panel will charge an ‘acting for lender’ fee and others do not.
I've read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Barrow In Furness solicitor - who is on the Barclays conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Barrow In Furness surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I am purchasing a new build house in Barrow In Furness with a loan from Skipton Building Society. The developers refused to reduce the price so I negotiated £7000 of extras instead. The estate agent told me not disclose to my lawyer about the extras as it may jeopardize my mortgage with the lender. Should I keep quiet?.
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.
How does the Landlord & Tenant Act 1954 affect my commercial property in Barrow In Furness and how can you help?
The 1954 Act affords a safeguard to business lessees, granting the a statutory right to apply to court for a renewal lease and continue in occupation at the end of the lease term. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and assist with commercial conveyancing in Barrow In Furness