I was told today by my estate agent that my Aldgate solicitor is not on the bank Solicitor panel. How can I be certain whether this is indeed the case?
The sensible course of action for you to take is to call your Aldgate lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they may recommend you to a Aldgate conveyancing firm that is on the approved list of lawyers for your bank.
I am buying a house for cash in Aldgate. I have lived for the last twelve years in Aldgate. Conveyancing searches are expensive. As I have knowledge of the road and vicinity intimately must I have all the conveyancing searches?
In the absence of a home loan, then almost all of the Aldgate conveyancing searches are optional. Your conveyancer will 'advise', no-doubt strongly, that you should have searches carried out, but she is duty bound to do this. Do bear in mind; if you are likely to dispose of the house in the future, it could be of interest to your future buyer what the searches reveal. Sometimes properties with no practical issues can still throw up detrimental search results. A good conveyancing solicitor in Aldgate should be able to give you some practical guidance in this regard.
I own a freehold house in Aldgate but still invoiced for rent, why is this and what is this?
It is rare for properties in Aldgate and has limited impact for conveyancing in Aldgate 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 generation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Me and my brother have a 4 bedroom Edwardian house in Aldgate. Conveyancing lawyer represented me and Barclays . I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Aldgate and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing solicitor who conducted the purchase.
Over the last few months I have been searching for a flat up to £305k and found one close by in Aldgate I like with open areas and station nearby, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Aldgate in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
I am purchasing a maisonette with all finances in place. I have provided solicitor with 2 separate proof of photographic identification, bank statement, multiple utility bills. Now he requires a copy from a probate lawyer acknowledging that the funds are in order and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Aldgate conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.