I purchased a freehold premises 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
I own a semi-detached Georgian house in Banbury. Conveyancing practitioner acted for me and HSBC Bank. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the exact same property. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Banbury and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing lawyer who conducted the work.
Due to the advice of my in-laws I had a survey completed on a property in Banbury ahead of instructing lawyers. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies tend not grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Banbury. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Banbury to see if the conveyancing costs will increase in light of this.
I'm converting the mortgage on my primary house to a buy to let mortgage with Barclays and intend to use the remaining equity as a down payment on another house. The neighborhood we are talking about is Banbury. Will your lawyers be able to act for both sets of banks and tie in the transactions?
Do use our search tool on this page to be sure that the solicitors are on the appropriate lender panels. Having checked that they are your conveyancer should be able to tie up the two transactions but you should have a chat with you conveyancer and make apparent your expectations and requirements.
In my capacity as executor for the will of my uncle I am selling a house in Cardiff but I am based in Banbury. My lawyer (based 300 miles from merequires that I execute a statutory declaration prior to completion. Can you recommend a conveyancing lawyer in Banbury who can witness this legal document for me?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are located in Banbury
My estate agent has suggested using their conveyancer for the conveyancing in Banbury - Is it not simpler advisable to just use them?
It is worth checking if the estate agent is recommending a conveyancing practitioner or introducing to a conveyancer. There are plenty of Banbury estate agents who recommend two or three Banbury conveyancing firms and get nothing from it.