I own a freehold house in Enfield but still invoiced for rent, why is this and what is this?
It is rare for properties in Enfield and has limited impact for conveyancing in Enfield 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I'm buying a new build house in Enfield benefiting from help to buy. The builders refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep suggested that I not disclose to my solicitor about the side-deal as it may impact my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Enfield is the location of the property. What do you suggest?
Flying freeholds in Enfield are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Enfield you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Enfield 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 residence.
My husband and I are a couple of weeks into a residential purchase having been recommend to a firm by the selling agent to perform conveyancing in Enfield. I am am starting to be disappointed with the level of service. Can you you assist me in finding new conveyancers?
They would have to be very poor in order to consider replacing them. Has the mortgage been issued? In the event that it has you need to make them aware of the new contact details and have the mortgage documents are re-issued. Your new solicitor ideally should be on the banks panel to avoid supplemental fees and frustration. So that should be your starting point. The find a solicitor tool should help you find a lender approved conveyancer for your conveyancing in Enfield
I have recently realised that I have Sixty One years remaining on my flat in Enfield. I need to extend my lease but my freeholder is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. On the whole an enquiry agent may be useful to carry out a search and prepare a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court covering Enfield.
I own a garden flat in Enfield. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Absolutely. We can put you in touch with a Enfield conveyancing firm who can help.
An example of a Lease Extension case for a Enfield property is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The remaining number of years on the lease was 81.79 years.
My estate agent has suggested using their lawyer for the conveyancing in Enfield - Surely it’s easier to just use them?
It is worth checking if the estate agent is recommending a solicitor or introducing to a lawyer. There are plenty of Enfield selling agents who recommend two or three Enfield conveyancing firms and get nothing from it.