I purchased a freehold residence in Coombe Dingle but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Coombe Dingle and has limited impact for conveyancing in Coombe Dingle 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 many centuries, 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 will be dispensed with completely.
Do I have to have a meeting at the offices of the solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Coombe Dingle so that I can attend their offices when needed.
Whereas this was necessary 12 years ago, almost all mortgage companies no longer need their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID documents and there are still manifest benefits to instructing a locally based ayer, in your situation a conveyancing solicitor in Coombe Dingle.
What can a local search tell me about the house my wife and I buying in Coombe Dingle?
Coombe Dingle conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations such as Searches UK The local search is essential in every Coombe Dingle conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your property. The search should supply data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
2 months have elapsed following my purchase conveyancing in Coombe Dingle took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Coombe Dingle differ for new build properties?
Most buyers of new build property in Coombe Dingle come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is completed. This is because house builders in Coombe Dingle usually buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Coombe Dingle or who has acted in the same development.
All being well we will complete the disposal of our £400,000 flat in Coombe Dingle in just under a week. The freeholder has quoted £420 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Coombe Dingle?
Coombe Dingle conveyancing on leasehold flats often necessitates the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be willing to do so. They are entitled to levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. In reality one has no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
Coombe Dingle Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
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Is the freehold owned collectively by the leaseholders? This information is useful as a) areas can result in problems for the building as the communal areas may begin to deteriorate where maintenance are not paid for b) if the leasehold owners have a dispute with the running of the building you will need to have complete disclosure It would be prudent to discover as much as you can concerning the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents from a financial perspective and when it comes to practical issues like the upkeep of the communal areas. Enquire of prospective neighbours if they are happy with their management. On a final note, find out the dates that the service charges are due to the relevant party and precisely how they are spending that money.