I purchased a freehold house in Bozeat but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Bozeat and has limited impact for conveyancing in Bozeat 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh 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 after 2037 will be extinguished.
I am purchasing a garden flat in Bozeat. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Bozeat you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Bozeat.
We are purchasing a 3 bedroom semi in Bozeat. Our aim is to convert the garage to an office at the house.Will the conveyancing process include enquiries to ascertain if these alterations are prohibited?
Your solicitor should check the registered title as conveyancing in Bozeat can on occasion identify restrictions in the title documents which restrict categories of alterations or necessitated the permission of a 3rd party. Many additions call for local authority planning consent and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be prudent to check these issues with a surveyor ahead of any purchase.
We expect to receive a DIP from Lloyds this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Lloyds recommend any Bozeat solicitors on the Lloyds conveyancing panel, or is it better to go independently?
You will need to appoint Bozeat solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
It is not clear whether my bank requires a lease extension. I have called my Bozeat bank branch on various occasions and was told it wasn't an issue and they would lend. My Bozeat conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they would not lend based on their specific requirements. Who do I believe?
The conveyancer has to follow the Council of Mortgage Lenders’ Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
What can a local search inform me concerning the property I am buying in Bozeat?
Bozeat conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company for example PSG The local search is essential in every Bozeat conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search will provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
How does conveyancing in Bozeat differ for newly converted properties?
Most buyers of new build premises in Bozeat approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Bozeat usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Bozeat or who has acted in the same development.