I purchased a freehold property in Brandon yet pay rent, why is this and what is this?
It is rare for properties in Brandon and has limited impact for conveyancing in Brandon 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 creation of fresh 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 post 2037 will be dispensed with completely.
I'm in the throws of viewing apartments in Brandon and I am now considering a potential offer. Is it premature to have a solicitor in place? I intend to finance via a home loan with UBS.
It would be sensible to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are getting a mortgage with UBS, make sure you remember to check that your lawyer is on the UBS conveyancing panel.
It is unclear whether my bank requires a lease extension. I have telephoned my Brandon building society branch on various occasions and was told it wasn't a problem and they will lend. My Brandon conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Your conveyancer has to comply with the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After shopping around on the internet I have found a Brandon lawyer having made sure that they are on the Nationwide conveyancing panel. Does my lawyer arrange the survey of the property?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide 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 Brandon 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'm purchasing my first flat in Brandon with the aid of help to buy. The builders refused to budge the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not reveal to my lawyer about this side-deal as it may put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I am looking to sell my house. My former conveyancers has retired. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Brandon if that affects matters.
Do use our search tool to help you find a solicitor for your conveyancing in Brandon. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.
Am I better off to instruct a Brandon conveyancing solicitor in close proximity to the house I am hoping to buy? I have an old university friend who can perform the legal work but his firm is located approximately 350kilometers away.
The benefit of a high street Brandon conveyancing firm is that you can drop in to sign paperwork, present your ID and pester them where appropriate. Having local Brandon know how is a plus. That being said it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and on the whole were happy that must surpass using an unknown Brandon conveyancing lawyer solely due to them being Brandon based.