I purchased a freehold premises in Borehamwood yet pay rent, why is this and what is this?
It’s unusual for properties in Borehamwood and has limited impact for conveyancing in Borehamwood 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment 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 extinguished.
Do I have to attend the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Borehamwood so that I can pop in to their offices if required.
As opposed to twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to supply identification documents and there are still distinct benefits to using a local solicitor, in your case a conveyancing solicitor in Borehamwood.
I have a terraced Victorian property in Borehamwood. Conveyancing lawyer acted for me and Clydesdale. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold under the exact same address. I'd like to know for sure, how can I find out??
You need to assess 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 Borehamwood 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 buyers. You can also enquire as to the situation with your conveyancing solicitor who completed the work.
I am purchasing my first flat in Borehamwood benefiting from help to buy. The sellers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not inform my conveyancer about the deal as it may affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Is it possible to switch conveyancer as I need to instruct a firm on the Coventry Building Society conveyancing list. I hired a family conveyancing solicitor in Borehamwood round the corner but the firm is not approved by Coventry Building Society
It would be our pleasure to assist you find a conveyancing solicitor in Borehamwood on the Coventry Building Society panel. Please note that the conveyancers that we work with do not pay us fee if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Borehamwood. In making use of the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Borehamwood.
Having checked my lease I have discovered that there are only 68 years remaining on my flat in Borehamwood. I now wish to get lease extension but my landlord is missing. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. In some cases a specialist may be useful to conduct investigations and to produce a report to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Borehamwood.
After months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Borehamwood. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We are happy to put you in touch with a Borehamwood conveyancing firm who can help.
An example of a Lease Extension case for a Borehamwood residence is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case was in relation to 1 flat. The remaining number of years on the lease was 71.73 years.