I own a freehold residence in Devon but still invoiced for rent, why is this and what is this?
It is rare for properties in Devon and has limited impact for conveyancing in Devon 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 establishment of new 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 in 2037 will be dispensed with completely.
My fiance and I are hoping to buy a 1 bedroom flat in Devon with a mortgage from Birmingham Midshires.We like our Devon conveyancing practitioner but Birmingham Midshires informed us she’s not on their approved list of member firms. It seems we are left with no choice but to instruct a Birmingham Midshires panel firm or retain our high street solicitor and pay for a Birmingham Midshires panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that solicitors needs to be on the Birmingham Midshires approved list. in the past, most lenders had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Birmingham Midshires
I am purchasing a 3 bedroom semi in Devon. The intention is to carry out an extension to the side at the property.Will legal due diligence on the property involve investigations to ascertain if these works are permitted?
Your solicitor will review the registered title as conveyancing in Devon will sometimes reveal restrictions in the title documents which prohibit categories of alterations or necessitated the permission of another owner. Many additions need local authority planning permissions and approval in accordance building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be wise to check these things with a surveyor ahead of any purchase.
We are getting the release of further funds on our mortgage from Nationwide as we intend to carry out renovations to our property in Devon. Are we obliged to appoint a nearby Devon solicitor on the Nationwide conveyancing panel to handle the legals?
Nationwide do not ordinarily appoint firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide panel.
We have agreed to purchase a house in Devon. A rare aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Coventry BS your lawyer must follow the conveyancing instructions outlined in Part two of UK Finance Lenders’ Handbook for Coventry BS. The CML Handbook includes minimum specifications for solar panel roof-space leases, and lawyers are required to report to Coventry BS where a lease fails to comply with these specifications. The requirements relate to the installation of panels on properties nationwide and is not limited to Devon.
My wife and I own a renovated Victorian house in Devon. Conveyancing lawyer acted for me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to 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 Devon and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing lawyer who completed the work.
I've recently bought a leasehold property in Devon. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a 2 bed flat in Devon, conveyancing was carried out 9 years ago. How much will my lease extension cost? Corresponding properties in Devon with over 90 years remaining are worth £255,000. The ground rent is £45 per annum. The lease terminates on 21st October 2097
You have 73 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
What are the compelling benefits to using a local lawyer in Devon
Home movers in Devon select a local solicitor so that they can visit if they have concerns, and to execute mortgage deeds without using the post.
We would suggest that there exists a marginal benefit when opting for a solicitor local to a premises you are hoping to purchase, due to the familiarity of the region and possible local concerns - nevertheless this is debatable. Most conveyancers are now over the internet and could be any place in the world.