Can the conveyancing lawyers that you recommend execute conveyancing in Moorgate by way of an attended exchange?
We do have a number of conveyancing specialists carrying out one day exchanges. You should call us to secure a fee calculation and details as to dates.
I own a freehold property in Moorgate but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Moorgate and has limited impact for conveyancing in Moorgate 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 creation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
We are expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would much rather appoint a Moorgate based conveyancing firm?
You should check but the chances are that allocate you one of their panel solicitors where you take up the "fee-free" incentive. Call the bank to explore if they allow a monetary alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Moorgate.
We are purchasing a 3 bedroom semi in Moorgate. Our aim is to an extension at the rear at the property.Will legal due diligence on the property include investigations to determine if these alterations are prohibited?
Your property lawyer should review the deeds as conveyancing in Moorgate can sometimes identify restrictions in the title documents which prohibit certain alterations or need the permission of a 3rd party. Certain extensions need local authority planning consent and approval in compliance with building regulations. Certain locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
I happen to be the only recipient of my late mum's will with all property in now in my sole name, including the house in Moorgate. Conveyancing formalities meant that the Land Registry date was in November. I plan to dispose of the house. I do know about the CML six month 'rule', meaning my proprietorship will be treated the same way as though I had purchased the property in November. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. How sensible a view banks take of it, depend on the lender as this requirement chiefly exists to pick up on the purchase and immediately sell or the flipping of properties.
I am currently in the process of buying my council flat in Moorgate. I have a mortgage agreed with Coventry BS. Conveyancing is new to me. 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 Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
My son is about to join the property ladder, the home loan was agreed last week in principle. When the seller agreed the offer on the house we telephoned the building society to go forward with his. We were very surprised to hear that mortgage companies do not accept all solicitor, they need to be on their approved list, is this right?
Lenders ordinarily restrict either the type or the number of conveyancing firms on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Moorgate conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.