I am the registered owner of a freehold residence in Finchley but still pay rent, why is this and what is this?
It’s unusual for properties in Finchley and has limited impact for conveyancing in Finchley 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
We are getting a further advance on our mortgage from Clydesdale as we want to conduct improvements to our home in Finchley. Do we need to select a local Finchley solicitor on the Clydesdale conveyancing panel to deal with the legals?
Clydesdale don't usually appoint firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale panel.
I have decided to exercise my right to buy my property in Finchley off the council. I have a mortgage agreed with Aldermore. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
My offer was accepted on an apartment in Finchley on 9/1/2019, valuation was booked five days later, received a clean bill of health. Solicitor retained, so the only thing outstanding was my mortgage offer. Having made daily calls to HSBC and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the HSBC conveyancing panel. Can the lender hold off the offer?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for HSBC to deal with your lawyer's application to be on the HSBC conveyancing panel. There's no guarantee that your solicitor will be accepted.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when acquiring a house in Finchley?
Unless a prior acquisition of the premises took place after 12 October 2013 you may assume that lawyers delivering conveyancing in Finchley to continue to recommend a chancel search and or insurance against a claim.
Is it best to choose a Finchley conveyancing lawyer who is local to the property I am buying? An old friend can handle the legal formalities however his firm is located 400kilometers away.
The benefit of a local Finchley conveyancing practice is that you can attend the office to execute paperwork, deliver your ID and apply pressure on them where appropriate. They will also have local intelligence which is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and the majority were content that should outweigh using an unknown Finchley conveyancing lawyer solely due to them being local.
My wife and I have an offer in principle from Barclays Direct who suggested we could borrow up to £218k. At what point do we need to appoint a solicitor for conveyancing? Finchley is where we plan to move to.
It would be wise to instruct a property lawyer now so that the lawyer can open the ledger so they can conduct the AML checks etc. Once you wish them to start work they will seek a payment on account normally about £175. That should generally be after you have the mortgage offer and valuation results, but should you wish to speed the process you can get going quicker even though you may be risking some money.