I purchased a freehold house in Middlewich but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Middlewich and has limited impact for conveyancing in Middlewich 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 creation 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 post 2037 is to be extinguished.
My apartment in Middlewich is up for sale and I have a purchaser. Does my conveyancer need to be on the Skipton conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Skipton conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
We are buying a property in Middlewich. It might be a silly question but how we can trust a lawyer? At some point we have to deposit funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We are getting the release of further funds on our home loan from Yorkshire BS as we wish to conduct renovations to our property in Middlewich. Are we obliged to select a local Middlewich solicitor on the Yorkshire BS conveyancing panel to handle the legals?
Yorkshire BS don't usually appoint firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS conveyancing panel.
I was told four weeks ago that my mortgage has been agreed to by TSB. Is it usual for TSB to only issue the offer once my solicitor in Middlewich is approved on their conveyancing panel? TSB have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for TSB to deal with your lawyer's application to be on the TSB conveyancing panel. There's no guarantee that your solicitor will be accepted.
Do I need to take out insurance to cover chancel repairs when buying a property in Middlewich?
Unless a previous acquisition of the house took place post 12 October 2013 you may expect solicitors conducting conveyancing in Middlewich to continue to suggest a chancel search and or chancel repair liability insurance.
I have been on the look out for a flat up to £195,000 and identified one round the corner in Middlewich I like with amenity areas and transport links in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Middlewich in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you need a home loan that many years will likely be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
Should I cancel the direct debit for my mortgage with UBS once a completion date for my home sale in Middlewich has been agreed?
No, you should keep paying any mortgage sums to UBS until the mortgage is paid off from the proceeds of sale as part of your Middlewich conveyancing.