I am the registered owner of a freehold property in Old Windsor yet charged rent, why is this and what is this?
It’s unusual for properties in Old Windsor and has limited impact for conveyancing in Old Windsor 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 creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would much rather use a specialised conveyancing solicitor in Old Windsor?
You should check but the chances are that allocate you one of their panel solicitors where you accept the "fee-free" incentive. Call the mortgage company to determine if they allow a monetary alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Old Windsor.
My bid for a property was accepted at auction in Old Windsor. Conveyancing is necessary. What are my next steps?
Now that you are legally bound yourself to purchase you will need to find a conveyancing lawyer as a matter of priority as you are facing a tight a drop dead date to complete the deal. An auction property should have a bespoke legal pack. This will likely include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the auction pack should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to leasehold premises. You need to hand this to your appointed conveyancing solicitor ASAP. Do make sure that that you have the requisite funding in place to complete on the on the contractual date .
I am being told by my solicitor that missing deeds insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Old Windsor?
The right level of missing deeds indemnity insurance should be dictated by who who your lender is. It would differ for example between HSBC Bank and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
We have a mortgage agreed in principle with Nationwide. Old Windsor conveyancing practitioners are selected. What is the average time that one could expect to receive a mortgage offer from Nationwide?
Some lenders take longer than others. Have Nationwide done the survey? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I need to appoint a conveyancing solicitor for remortgage conveyancing in Old Windsor. I've chance upon a web site which looks to be the ideal offering If it is possible to get all the legals done via email that would be ideal. Should I be concerned? What should out be looking out for?
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?
What is the reason for new build conveyancing in Old Windsor being more expensive?
Conveyancing in Old Windsor for newly converted or new build homes often involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as additional queries and contractual considerations.