Unfortunately I am unable to travel far from Broughton In Furness. Can you please clarify why all Broughton In Furness lawyers are not on all mortgage company panels?
As unjust as it may appear for mortgage companies to limit who can act for them, from the public’s or lawyer’s standpoint, the other side of the coin is that mortgage companies are increasingly anxious and feel it imperative to shield themselves against mortgage fraud. As a consequence of this concern banks have consolidated their panel of approved conveyancing lawyers to a manageable size.
I own a freehold property in Broughton In Furness yet pay rent, why is this and what is this?
It is rare for properties in Broughton In Furness and has limited impact for conveyancing in Broughton 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
It has been 3 months following my purchase conveyancing in Broughton In Furness concluded. I have checked the Land Registry website 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.
Are there any apps to help search for a Broughton In Furness solicitor on the HSBC Bank conveyancing panel? I have wheels and am happy to travel upto 20miles to meet the lawyer.
You can use the search on this page. Please select a bank and your location and you will see a number of Broughton In Furness conveyancing lawyers locally. We have detailed some Broughton In Furness conveyancing firms towards the end of this page and you can telephone them to verify if they are on the HSBC Bank member panel
I am on look out for some leasehold conveyancing in Broughton In Furness. Before diving in I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Broughton In Furness - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Broughton In Furness Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
Please inform me if there are any major works in the planning that will increase the service costs? You should be aware that where the lease has no more than 80 years it will have adverse implications on the salability of the property. Check with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely need a lease extension at some point and it is worth finding out what this will be. Remember, in most cases you would be be obliged to have been the owner of the premises for a couple of years before you are entitled to carry out a lease extension. What is the yearly service fee and ground rent?