I am the registered owner of a freehold premises in East Finchley but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in East Finchley and has limited impact for conveyancing in East Finchley 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 from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
We're in East Finchley, First timers buying with a mortgage (lender is Kent Reliance , and our solicitor is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Just acquired a terraced house in East Finchley , how long should it take for the Land Registry to register the transfer to my name? My East Finchley conveyancing solicitor has been painfully slow, so I want to be certain that my purchase is registered.
As far as conveyancing in East Finchley registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timeframes can differ depending on the party submitting the application, whether it is in order and whether the Land registry have to notify any third parties. As of today approximately 80% of submission are fully addressed within 12 days but occasionally there can be extensive hold-ups. Historically registration takes place once the purchaser is living at the property therefore an expedited registration is not usually an essential issue yet where there is a degree of urgency associated with the registration then you or your solicitor can communicate with the Registry to express the reasoning for an expedited registration.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. East Finchley is the location of the property. Can you offer any guidance?
Flying freeholds in East Finchley are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in East Finchley you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in East Finchley may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My business partner and I are wishing to lease a unit on a shopping parade. Can you recommend solicitors offering no-sale-no charges for commercial conveyancing in East Finchley for below 2k?
We can recommend firms who host a wealth of experience of commercial conveyancing in East Finchley, including the sale and purchase of businesses as well as simply property. Whether you are hoping to purchase or lease a shop, pub, restaurant, office, retail unit or a whole business we will put you in touch with the right firm. As for the fees this will depend on the structure and complexity of the proposed transaction. Please provide us with your contact information or telephone us so that we can furnish you with a detailed commercial conveyancing calculation.
What are your top tips when it comes to choosing a East Finchley conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a East Finchley conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non East Finchley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be helpful:
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What are the costs for lease extension work? If they are not ALEP accredited then what is the reason?
I am the proprietor of a basement flat in East Finchley. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?
Most definitely. We can put you in touch with a East Finchley conveyancing firm who can help.
An example of a Lease Extension case for a East Finchley flat is Ground Floor 110 Station Road in June 2013. The Tribunal found that the premium payable for a lease extension should be £31,665. This case related to 1 flat. The remaining number of years on the lease was 56.65 years.