I own a freehold residence in South Lambeth but still pay rent, why is this and what is this?
It is rare for properties in South Lambeth and has limited impact for conveyancing in South Lambeth 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 establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
My brother-in-law has suggested I instruct a conveyancing solicitor in South Lambeth. I need to find out if they are on the National Westminster Bank conveyancing panel. Could you help?
The first thing to do is call your conveyancer and enquire whether they are on the lender panel. Alternatively you can get in touch with National Westminster Bank who may be able to confirm.
Can you point me to a directory of Principality panel conveyancers in South Lambeth on the Council of Mortgage Lender’s Website?
No. There is no such facility on the CML or Building Society Association sites. Very few lenders make their panel listings available on the web. Where you are seeking to appoint a South Lambeth conveyancer on the Principality please use our facility.
My wife and I have organised a further advance on our home loan from Barclays as we intend to carry out a loft conversion to our house in South Lambeth. Are we obliged to appoint a bricks and mortar South Lambeth solicitor on the Barclays conveyancing panel to handle the paperwork?
Barclays don't usually require firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays conveyancing panel.
After months of negotiation I have agreed a price on a house in South Lambeth. My mortgage broker recommended their conveyancers. I paid an advanced payment of £150. A few days later, the lawyer contacted me to say that they were not on the Nottingham conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nottingham panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My partner has suggested that I use his conveyancers in South Lambeth. Do I take his guidance?
There are no two ways about it it’s preferable to select a conveyancing lawyer is to seek feedback from friends or relatives who have experience in using the firm you're are thinking of instructing.
My fiance is buying a ground floor flat in South Lambeth. He was given a quote by the conveyancer recommended by the selling agents and it came to £1275 . It was eight years ago since I sold and bought a house and it cost was £440. Have costs really increased to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for example South Lambeth searches, land registry fees, etc)