I purchased a freehold property in Lambeth but still invoiced for rent, why is this and what is this?
It is rare for properties in Lambeth and has limited impact for conveyancing in 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 creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
My property lawyer in Lambeth has never been on on the Virgin Money Solicitor Panel. Can I still use my family solicitor even though they are not on the Virgin Money list of approved lawyers?
The limited options open to you here include:
- Complete the purchase with your existing Lambeth solicitors but Virgin Money will need to use a conveyancer on their panel. This will inevitably rack up the total legal charges and result in delays.
- Find a new solicitor to act in the conveyancing, remembering to check they are Virgin Money approved.
- Try to convince your Virgin Money based solicitor to try to join the Virgin Money panel
Are all Lambeth Conveyancing Quality Solicitors on the Principality conveyancing panel?
Some major banks and building societies now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
We are getting the release of further monies on our mortgage from Santander as we wish to conduct improvements to our home in Lambeth. Are we obliged to select a nearby Lambeth solicitor on the Santander conveyancing panel to deal with the paperwork?
Santander do not ordinarily appoint firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Santander conveyancing panel.
My wife and I are in the process of looking at flats in Lambeth and I am now considering a potential offer. Is it premature to have a solicitor in place? I am planning to take a mortgage with TSB.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are taking out a mortgage with TSB, make sure you remember to check that your lawyer is on the TSB conveyancing panel.
I am buying my first flat in Lambeth with the aid of help to buy. The sellers refused to reduce the amount so I negotiated 6k of extras instead. The estate agent suggested that I not reveal to my solicitor about this side-deal as it will impact my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
As co-executor for the estate of my grandmother I am disposing of a residence in Neath but I am based in Lambeth. My lawyer (who is 235 miles from mehas requested that I execute a statutory declaration prior to completion. Could you suggest a conveyancing solicitor in Lambeth who can witness this legal document for me?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are based in Lambeth