I am the registered owner of a freehold residence in Banbury yet charged rent, why is this and what is this?
It is rare for properties in Banbury and has limited impact for conveyancing in Banbury 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 many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Are the BSA planning on creating a online directory to list solicitors on the Loughborough BS conveyancing panel for example in Banbury?
Lexsure has not been advised of any plans on the part of the BSA to develop such a search facility.
My aunt advised me that in buying a property in Banbury there may be a number of restrictions preventing external changes to a property. Is this right?
There are a number of properties in Banbury which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Banbury should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am purchasing a property in Banbury. A rare aspect is that the roof has a solar panel. Santander 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 you are obtaining a mortgage with Santander your lawyer must follow the conveyancing instructions set out in Part two of UK Finance Lenders’ Handbook for Santander. The CML Handbook sets out minimum conditions for solar panel roof-space leases, and solicitors are required to report to Santander where a lease does not meet these specifications. The conditions relate to the installation of panels on properties countrywide and is not restricted to Banbury.
I am selling my flat. I had a double glazing fitted in July 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, TSB are being difficult. The Banbury solicitor who is on the TSB conveyancing panel is happy to accept ‘lack of building regulation’ insurance but TSB are requiring a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The deeds to my home can not be found. The solicitors who did the conveyancing in Banbury 10 years ago have long since closed. What are my next steps?
You no longer need to hold title deeds to establish that you are the owner of your registered land or property, given that the Land Registry have everything they need in a digital format.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one close by in Banbury I like with open areas and transport links nearby, the downside is that it only has 52 years on the lease. There is not much else in Banbury in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage 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 proprietor has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.
Given that I will soon part with hundreds of thousands of pounds on a garden flat in Banbury I would like to talk to a lawyer about myconveyancing in advance of giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - we would be delighted to talk to you we do not take any clients on without you liaising with the conveyancer who will be carrying out your property ownership legalities in Banbury.There is no ‘factory style conveyancing’ - every client is an important person, not a case number. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Banbury should be the figure that you end up paying.