Is it possible for conveyancing in Dronfield to be finalised within two weeks?
Where the seller is applying time constraints for your conveyancing we would recommend that your conveyancer is familiar with the location as they will benefit local relationships and knowledge. It is possible that they could have transacted previoushouses in the same neighbourhood. Therefore consider using a Dronfield conveyancing firm. Second, double check that the lawyer is on the on the approved list for your mortgage company. It is understood that 18% of Dronfield conveyancing transactions are delayed or jeopardised after finding out that a purchaser’s conveyancer was not on their banks panel. In many cases this discovery resulted in the legal transfer of property being delayed by as much as 21 days. It is claimed that this issue affects approximately 100,000 home moves annually. Almost all Dronfield conveyancing firms can not represent certain banks so do check as early as possible.
I purchased a freehold premises in Dronfield yet pay rent, why is this and what is this?
It’s unusual for properties in Dronfield and has limited impact for conveyancing in Dronfield 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 creation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Is it the case that all Dronfield CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing list of approved practices?
It is true that some lenders now make use of CQS as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
I have a mortgage with Clydesdale for my property in Dronfield. Conveyancing was finalised a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?
Your original mortgage agreement with Clydesdale will provide that you need their approval prior to renting your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. You need not do this via a Clydesdale conveyancing panel firm.
I am selling my apartment. I had a double glazing fitted in July 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Coventry BS are being pedantic. The Dronfield solicitor who is on the Coventry BS conveyancing panel is saying indemnity insurance will be fine but Coventry BS are insisting on a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS 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.
The deeds to our home are lost. The conveyancers who did the conveyancing in Dronfield 10 years ago are no longer around. What do I do?
Nowadays there are duplicates made of almost everything, and your conveyancer should know precisely where to look for all the appropriate documentation so you can buy or dispose of your property without a hitch. If duplicates are not available, your solicitor can put in place insurance or indemnities against future claims on the premises.
How and when do I pay stamp duty chargeable for my Dronfield property purchase?
Your solicitor will fill out a stamp duty return for you during your Dronfield conveyancing transaction for signature. After completion your conveyancer will submit your Land Transaction Return Form to the Tax Authorities and - as long as they have the funds - pay any tax bill payable for you.