I am buying a house mortgage free in Bembridge. I have been living for the previous Seventeen years in Bembridge. Conveyancing searches are exorbitant. Given that I know the area and road very well must I have all the conveyancing searches?
If you not getting a home loan, then the vast majority of the Bembridge conveyancing searches are at your discretion. Your solicitor will try and sway you, perhaps strongly, that you should have searches carried out, but she is duty bound to take that path of advice. Do bear in mind; if you are intend to dispose of the house at a future date, it could be of relevance to your prospective buyer what the searches determine. Sometimes premises with apparent issues can still show up unexpected search results. A good conveyancing solicitor in Bembridge should provide you some constructive advice in this regard.
I am the registered owner of a freehold premises in Bembridge but nevertheless pay rent, why is this and what is this?
It is rare for properties in Bembridge and has limited impact for conveyancing in Bembridge 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 new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
My brother-in-law has suggested I instruct a conveyancing solicitor in Bembridge. I I would like to check if they are accepted on the Nottingham Building Society approved list of lawyers. Could you assist?
You should call the conveyancer and enquire if they can act for the lender. Alternatively you should call Nottingham Building Society who may be able to help.
I bought my flat on 6 June and the transaction details are still not on the land registry website. Need I be worried? My conveyancing solicitor in Bembridge expressed confidence that it will be recorded in less than a month. Are properties in Bembridge particularly slow to register?
As far as conveyancing in Bembridge registration is no quicker or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can vary subject to the party submitting the application, whether it is in order and if the Land registry need to notify any other persons or bodies. As of today roughly 80% of such applications are completed in less than three weeks but some can be subject to protracted hold-ups. Historically registration is effected once the purchaser is living at the property therefore an expedited registration is not usually an essential issue but if it is urgent that the the registration takes place urgently then you or your conveyancer could communicate with the Registry to express the reasoning for an expedited registration.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Bembridge is where the house is located. What do you suggest?
Flying freeholds in Bembridge are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bembridge you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bembridge may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.