I purchased a freehold premises in Hale Barns but still pay rent, why is this and what is this?
It is rare for properties in Hale Barns and has limited impact for conveyancing in Hale Barns 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.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I just bought a property at auction in Hale Barns. Conveyancing is necessary. What is next?
Now that you have legally bound yourself to purchase you will need to instruct a conveyancing solicitor as a matter of priority as you now have a tight deadline in which to complete the deal. Every auction property should have a bespoke legal set of papers. This will include evidence of title and search results. In the case of leasehold premises the auction pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You should give this to the solicitor instructed by you ASAP. You also need to ensure that you have funds organised to complete on the date specified in the contract.
I have paid off my mortgage with Nationwide. I assume I don't need a Hale Barns lawyer on the Nationwide panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nationwide mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nationwide mortgage from the register. Nationwide, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
I currently have a mortgage with Nationwide for my property in Hale Barns. Conveyancing has been completed 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Nationwide?
You must advise Nationwide before letting out your property as this is likely to be a breach of Nationwide’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide directly. It should not be necessary to do this via a Nationwide conveyancing panel solicitor.
We are downsizing from our property in Hale Barns and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A local lawyer would know this is not the case. For the life of me I don't know why the purchasers used a web based conveyancing firm rather than a conveyancing solicitor in Hale Barns. Having lived in Hale Barns for 5 years we know that this is a non issue. Do we get in touch with our local Authority to get clarification need.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Hale Barns is the location of the property. What do you suggest?
Flying freeholds in Hale Barns are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hale Barns you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hale Barns may determine 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.
As co-executor for the estate of my father I am selling a house in Cardiff but live in Hale Barns. My lawyer (who is 235 kilometers from merequires that I execute a stat dec ahead of completion. Could you suggest a conveyancing lawyer in Hale Barns who can witness and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are located in Hale Barns
Back In 2001, I bought a leasehold flat in Hale Barns. Conveyancing and Coventry Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Hale Barns who acted for me is not around. Any advice?
The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Hale Barns conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a 2 bed flat in Hale Barns, conveyancing formalities finalised July 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Hale Barns with an extended lease are worth £195,000. The ground rent is £45 levied per year. The lease terminates on 21st October 2089
With only 63 years remaining on your lease the likely cost is going to span between £16,200 and £18,600 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.