I own a freehold property in Hove yet invoiced for rent, why is this and what is this?
It is rare for properties in Hove and has limited impact for conveyancing in Hove 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
I have been advised by my lawyer that chancel insurance is needed on my purchase. What is the level of cover for Hove conveyancing?
The right level of chancel indemnity insurance depends on your lender. It would differ for example between Santander and Skipton Building Society. Conveyancing lawyers as opposed to members of the public take out such insurances.
Can you point me to a directory of Lloyds panel solicitors in Hove on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few lending institutions make their panel listings visible over the internet. If you are in need of a Hove conveyancing practitioner on the Lloyds please make the most of our tool.
The mortgage over my property is with HSBC for my property in Hove. Conveyancing has been completed a year ago. If I am intending 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 HSBC?
You must advise HSBC before renting your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will permit you to let 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 HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel solicitor.
I opted to have a survey done on a property in Hove before instructing lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some mortgage companies will refuse to grant a mortgage on such a home.
It varies from the lender to lender. Santander has different requirements for example to Halifax. Should you wish to telephone us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hove. Conveyancing will be smoother if you use a solicitor in Hove especially if they regularly deal with such properties in Hove.
Are there any apps to assist me to search for a Hove law firm on the Bank of Scotland conveyancing panel? I have a car and am prepared to travel upto 25miles to meet the lawyer.
Feel free to make use of the search on this page. Please pick a bank and your location and you will see a number of Hove conveyancing lawyers based on proximity. We have listed some Hove conveyancing firms towards the end of this page and you can call them to check if they are on the Bank of Scotland panel
Online reading suggests that Hove solicitors are more costly than Hove conveyancers in Hove when it comes to purchasing a property. So is it better if I use a conveyancer or a solicitor where I am buying a house in Hove.
When it comes to conveyancing in Hove the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.