I own a freehold property in Fitzrovia but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Fitzrovia and has limited impact for conveyancing in Fitzrovia 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 creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
We're in Fitzrovia, FTBs purchasing with a mortgage (lender is TSB , and our solicitor is on the TSB conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the TSB conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner 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.
four months have elapsed since my purchase conveyancing in Fitzrovia completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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.
What makes your site different to alternative web based conveyancing solicitors for conveyancing in Fitzrovia?
At this site secure a conveyancing quote from a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Fitzrovia. Unlike many estate agents and many comparison sites we do not have commission arrangements with solicitors. Some agents and online brokers 'recommend' the firm who pay the most kickback, not the best value conveyancing in Fitzrovia
I have just appointed agents to market my 2 bed flat in Fitzrovia. Conveyancing is yet to be initiated, but I have recently had a quarterly service charge invoice – should I leave it to the buyer to sort out?
It best that you discharge the maintenance contribution as you normally would as all rents and service charges will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am the proprietor of a two-bedroom flat in Fitzrovia. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
in cases where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the price.
An example of a Freehold Enfranchisement case for a Fitzrovia property is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case was in relation to 1 flat. The unexpired residue of the current lease was 73.26 years.
Please can you suggest a conveyancing practitioner for conveyancing in Fitzrovia (or within 5klm)? This is for lease extension.My husband and I did have one appointed but just found out that are not on the panel for TSB.
LenderPanel.com is restricted to being a directory service for solicitors who wish to be listed as being on the approved conveyancing panel for TSB in certain areas for example Fitzrovia . We dont recommend any specific conveyancing practitioner.