I am the registered owner of a freehold residence in Chathill but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Chathill and has limited impact for conveyancing in Chathill 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 fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
We are hoping to buy a purpose built apartment in Chathill with a residential mortgage from Coventry Building Society.We have a Chathill conveyancing solicitor but Coventry Building Society informed us her practice is not on their approved list of member firms. we are left little option but to use a Coventry Building Society panel firm or keep our high street solicitor and fork out for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage issued to you is subject to its various provisions, one of which will be that lawyers needs to be on the Coventry Building Society approved list. Until recently, most banks 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Coventry Building Society
Should my conveyancer be asking questions about flooding as part of the conveyancing in Chathill.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Chathill. Some people will acquire a property in Chathill, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, but there are a number of checks that may be undertaken by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Chathill. The conventional set of property information forms sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the vendor to find out if the premises has ever been flooded. In the event that flooding has previously occurred and is not notified by the seller, then a buyer could commence a legal claim for losses resulting from an incorrect reply. A buyer’s conveyancers may also order an enviro report. This will reveal if there is any known flood risk. If so, further inquiries should be initiated.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Chathill?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Chathill. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a flat up to £305k and found one near me in Chathill I like with open areas and railway links in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Chathill in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan that many years will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
In my capacity as executor for the estate of my aunt I am disposing of a residence in Neath but reside in Chathill. My conveyancer (based 250 kilometers from mehas requested that I sign a statutory declaration prior to completion. Could you suggest a conveyancing practitioner in Chathill who can attest this legal document for me?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are based in Chathill