I own a freehold premises in Fishponds but nevertheless charged rent, why is this and what is this?

It is rare for properties in Fishponds and has limited impact for conveyancing in Fishponds 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.

Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.

we are a couple who are purchasing a newly converted flat in Fishponds with a loan from National Westminster Bank.We have a Fishponds conveyancing solicitor but National Westminster Bank says she’s not on their "panel". we are left little option but to use a National Westminster Bank panel solicitor or retain our preferred solicitor and fork out for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that National Westminster Bank use our lawyer?

Unfortunately,no. The mortgage issued to you is subject to its various provisions, a common one being that lawyers must be on the National Westminster Bank approved list. in the past, most banks had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for National Westminster Bank

I am buying my first flat in Fishponds with the aid of help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not to tell my conveyancer about the extras as it may affect my loan with Lloyds TSB Bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder 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 need to instruct a conveyancing solicitor for residential conveyancing in Fishponds. I've stumble upon a site which seems to have the ideal answer If it is possible to get all this stuff done via web that would be ideal. Should I be wary? What are the potential pitfalls?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

Why is New Build conveyancing in Fishponds more costly?

Buying a brand new home is significantly different from the normal house buying conveyancing in Fishponds. For a start developers ordinarily insist contracts to exchange very quickly, so there is a lot of pressure on your solicitor to ensure all is in order. Furthermore new build premises often involve the checking of adoption of highways, drains, planning considerations, building warranties or architects certificates. Bank obligations are also more detailed. Due to the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.