I own a freehold property in Caterham yet pay rent, why is this and what is this?
It is rare for properties in Caterham and has limited impact for conveyancing in Caterham 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.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
My wife and I buying a end of terrace house in Caterham. We would like to an extension at the rear at the house.Will legal investigations on the property include enquiries to determine if these works were previously refused?
Your property lawyer will review the registered title as conveyancing in Caterham can sometimes reveal restrictions in the title deeds which prohibit certain alterations or need the consent of a 3rd party. Many additions require local authority planning permissions and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
My lawyer has informed me that breach of easement insurance is needed on my purchase. What is the level of cover for Caterham conveyancing?
The right level of breach of easement indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and Coventry Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
I have today made my last payment due on my mortgage with Nottingham. I assume I don't need a Caterham conveyancing practitioner on the Nottingham panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
I am looking for a ground for flat up to £235,500 and found one round the corner in Caterham I like with open areas and station nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Caterham in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan the remaining unexpired lease term will likely be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I need to appoint a conveyancing solicitor for my conveyancing in Caterham. I've chance upon a web site which appears to be the ideal offering If it is possible to get all this stuff done via web that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I've recently bought a leasehold property in Caterham. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee 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 have tried to negotiate informally with with my landlord to extend my lease without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Caterham conveyancing firm to help?
if there is a missing freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the price.
An example of a Freehold Enfranchisement case for a Caterham flat is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case related to 3 flats. The unexpired residue of the current lease was 75 years.
I am purchasing a maisonette mortgage free. I have provided conveyancer with two distinct forms of photographic identification, bank statement, multiple utility bills. Now he requires a copy from a probate lawyer stating that the money is legitimate and that it has come from inheritance and not via illegitimate means.
In today’s world you will not be able to complete any Caterham conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Establishing of your source of funds is required under Money Laundering Regulations.