I own a freehold property in Mansfield but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Mansfield and has limited impact for conveyancing in Mansfield 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 from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
My fiance and I intend to purchase a newly converted flat in Mansfield with a homeloan from TSB.We use our Mansfield conveyancing practitioner but TSB says her practice is not listed on their approved list of member firms. We have to appoint a TSB panel firm or retain our high street solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that TSB use our lawyer?
Unfortunately,no. The home loan offered to you contains terms and conditions, a common one being that conveyancers must be on the TSB solicitor panel. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could choose 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 TSB
About to purchase a new build apartment in Mansfield. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Mansfield
Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Due to the encouragement of my in-laws I had a survey completed on a house in Mansfield before instructing solicitors. I have been told that there is a flying freehold element to the house. The surveyor has said that some mortgage companies may not grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. If you call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Mansfield. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Mansfield to see if the conveyancing costs will increase in light of this.
I need to find a conveyancing solicitor for freehold conveyancing in Mansfield. I have land on a web site which looks to be the ideal solution If it is possible to get all formalities done via phone that would be preferable. 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?