I chose a high street lawyer for my conveyancing in Frant recently. Reviewing the official terms of business I seeI am responsible for charges even if the movedoes not happen. Would I be best advised to select a web based conveyancing company offering no completion no cost conveyancing in Frant?
It is usually a trade off in that if "No Completion No Fee" is advertised then the fee levels will tend to be be more expensive to cover those cases that do not go ahead. Dont forget that such schemes generally do not cover outlay such your Frant conveyancing search expenses.
I am the registered owner of a freehold property in Frant but nevertheless charged rent, why is this and what is this?
It is rare for properties in Frant and has limited impact for conveyancing in Frant 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 fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Frant?
Two types of professional can conduct conveyancing in Frant namely CLC regulated conveyancers or solicitors. Both professionals provide conveyancing services that you need to complete the disposal or purchase of property. They are both obliged to execute Frant conveyancing to the same quality and guidelines so you can be safe in the knowledge that your conveyancing will be professionally administered and that all requirements and procedures should be suitably taken.
We previously appointed conveyancing lawyers located in Frant on the Aldermore solicitor approved list. They have just invoiced me a separate sum for handling the Aldermore mortgage. Is this an additional conveyancing fee set by Aldermore?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your conveyancer may levy a fee for this. The charge is not dictated by Aldermore but by your Frant conveyancer. Some firms on the Aldermore panel will levy an ‘acting for lender’ fee and others do not.
I have a mortgage with Virgin Money for my property in Frant. Conveyancing has been completed months 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 Virgin Money?
You must advise Virgin Money before renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money 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 Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel firm.
A friend suggested that if I am buying in Frant I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Frant conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Frant around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Frant Education with plans and statistics, Local Amenities and other useful data regarding Frant.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one round the corner in Frant I like with open areas and station in the vicinity, however it only has 61 remaining years left on the lease. There is not much else in Frant suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage that many years may be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.