I have just been advised by my financial adviser that my Mossley Hill the law firm I have appointed is not on the bank Solicitor panel. How can I check?
The first thing you need to do is to call your Mossley Hill lawyer directly. It is reasonable to expect your lawyer to inform you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
I own a freehold residence in Mossley Hill but still charged rent, why is this and what is this?
It is rare for properties in Mossley Hill and has limited impact for conveyancing in Mossley Hill 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 many centuries, but the Rent Charge Act 1977 barred the creation 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 will be dispensed with completely.
My mortgage company has suggested solicitors on their panel based in Mossley Hill but I would rather use a conveyancing lawyer in Mossley Hill or nearer to where I live. Can you help?
It is by no means the case that all Mossley Hill conveyancing practitioners are listed all lender’s conveyancing panel. Use the above find an approved solicitor tool to locate a Mossley Hill conveyancing conveyancer on the on the mortgage company panel.
Various web forums that I have frequented warn that are the primary reason for stalling in Mossley Hill conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Mossley Hill.
Over the last few months I have been searching for a flat up to £235,500 and found one near me in Mossley Hill I like with amenity areas and railway links in the vicinity, however it only has 61 years unexpired on the lease. There is not much else in Mossley Hill in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan that many years may be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.