Unfortunately I am unable to travel far from Hanley. What is the rationale as to why all Hanley property lawyers are not on all bank panels?
As inequitable as it may appear for banks to restrict who can act for them, from the public’s or conveyancer’s standpoint, the other side of the coin is that mortgage companies are increasingly anxious and consider it crucial to protect them against mortgage fraud. As a consequence of this concern lenders have restricted their conveyancing panel to a size that they are happy to control.
I purchased a freehold house in Hanley yet charged rent, why is this and what is this?
It’s unusual for properties in Hanley and has limited impact for conveyancing in Hanley 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 generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
What does a local search reveal regarding the property I am buying in Hanley?
Hanley conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for instance PSG The local search plays a central role in many a Hanley conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search will reveal data on, amongst other things, details on planning applications applicable to the premises (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 13 topic areas.
Are there restrictive covenants that are commonly picked up during conveyancing in Hanley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Hanley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Hanley is the location of the property. Is there any advice you can give?
Flying freeholds in Hanley are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hanley you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hanley may decide 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.