I am the registered owner of a freehold property in Walton on the Naze but still charged rent, why is this and what is this?
It’s unusual for properties in Walton on the Naze and has limited impact for conveyancing in Walton on the Naze 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 establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
My property lawyer in Walton on the Naze is not listed on the Accord Mortgages Ltd Solicitor Panel. Can I still continue with my family solicitor even though they are excluded from the Accord Mortgages Ltd list of approved lawyers?
The limited options open to you here include:
- Complete the purchase with your existing Walton on the Naze lawyers but Accord Mortgages Ltd will need to instruct a solicitor on their list of acceptable firms. This will inevitably rack up the overall conveyancing fees and cause frustration.
- Choose a new lawyer to act in the purchase, obviously checking they are on the Accord Mortgages Ltd panel
I am purchasing a property in Walton on the Naze. An unusual aspect is that the roof has a solar panel. TSB have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is TSB your lawyer must comply with the conveyancing requirements set out in Section 2 of UK Finance Lenders’ Handbook for TSB. The CML Handbook contains minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to TSB where a lease fails to meet these conditions. The requirements relate to the installation of panels on properties nationwide and is not limited to Walton on the Naze.
My fiancee and I are at the point of viewing apartments in Walton on the Naze and I am about to put in an offer. Should I already have a conveyancing practitioner in place at this stage? I intend to finance via a home loan with Kent Reliance.
It would be advisable to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are getting a mortgage with Kent Reliance, ask your prospective lawyers if they are on the Kent Reliance conveyancing panel otherwise they can't do the mortgage legal work.
I have a mortgage with RBS for my property in Walton on the Naze. Conveyancing has been completed months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform RBS?
Your original mortgage agreement with RBS will provide that you need their approval before renting your property as this is likely to be a breach of RBS’s mortgage conditions. It may be that RBS will allow you to rent 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 RBS directly. It should not be necessary to do this via a RBS conveyancing panel lawyer.
I am intent on selling our property in Walton on the Naze and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A high street Walton on the Naze conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers used a web based conveyancing outfit rather than a conveyancing solicitor in Walton on the Naze. Having lived in Walton on the Naze for 4 years we know of no issue. Do we get in touch with our local Authority to seek confirmation that there is no issue.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Walton on the Naze is the location of the property. Is there any advice you can give?
Flying freeholds in Walton on the Naze are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Walton on the Naze you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Walton on the Naze may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.