I purchased a freehold property in Sandhurst but still charged rent, why is this and what is this?
It is rare for properties in Sandhurst and has limited impact for conveyancing in Sandhurst 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Can you clarify what the consequences are if my solicitor is suspended from the Nationwide Solicitor panel ahead of completing my conveyancing in Sandhurst?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
The mortgage over my property is with Nottingham for my property in Sandhurst. Conveyancing has been completed some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nottingham?
Your original mortgage agreement with Nottingham will provide that you need their approval before letting out your property as this is likely to be a breach of Nottingham’s mortgage conditions. In many cases banks or building societies 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 Nottingham directly. You need not do this via a Nottingham conveyancing panel lawyer.
The formalities of my purchase has taken place for my property in Sandhurst. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
My sealed bid on a detached house in Sandhurst has been agreed to, but there is a chain. The vendors have offered on a property, but it’s not yet tied up, and have viewings of other properties in the pipeline. I have selected a nearby conveyancing solicitor in Sandhurst. What do I do now? At what point do I apply for the mortgage with Barclays?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of £1k, then survey, Sandhurst conveyancing search fees, etc). First, you should ensure that your lawyer is on the Barclays conveyancing panel. Regarding the subsequent phase this very much dictated by the uniqueness of your case, attraction to this property and on the state of the market. During a rising market some home buyers would apply for a home loan with Barclays and pay for the valuation and only if it comes back ok would they ask their solicitor to move forward with the conveyancing in Sandhurst.
My company is looking to lease a unit on a shopping parade. Can you recommend lawyers offering fixed charges for non-domestic conveyancing in Sandhurst for under £2000?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Sandhurst, including the sale and purchase of businesses as well as simply property. If you are intending to buy or dispose of a shop, pub, restaurant, office, retail premises or a whole business we can find you the right firm. As for the fees this will depend on the structure and heads of terms of the deal. Let us have your contact information or phone so as to enable us to furnish you with a fixed commercial conveyancing calculation.
Living abroad it is not practicable to be present at my Sandhurst conveyancing solicitors office to sign documents for conveyancing in Sandhurst – will this be problematic?
No. Sandhurst conveyancing lawyers can undertake home moves for clients nationwide. You are unlikely to be required to be present a Sandhurst conveyancers office. They can undertake all communications using post, email, telephone and fax.