I own a freehold residence in Harrogate but still invoiced for rent, why is this and what is this?
It is rare for properties in Harrogate and has limited impact for conveyancing in Harrogate 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 creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I happen to be the sole beneficiary of my late mum's will with all property in now in my sole name, including the my former home in Harrogate. The Harrogate property was put into my name in January. I plan to dispose of the property. I do know about the CML six month 'rule', which means that my property ownership may be treated the same way as though I had purchased the property in January. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. Most lenders would take a practical view as this provision is chiefly there to capture the purchase and immediately sell or the wholesaling and assigning of properties.
My fiancee and I are in the throws of looking at flats in Harrogate and I am now considering a potential offer. Is it premature to have a solicitor in place? I intend to finance via a home loan with Coventry BS.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. As you are taking out a mortgage with Coventry BS, make sure you remember to check that your lawyer is on the Coventry BS conveyancing panel.
I was told three weeks ago that my mortgage has been agreed to by Nationwide. Is it usual for Nationwide to only issue the offer once my solicitor in Harrogate is approved on their conveyancing panel? Nationwide have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nationwide to deal with your lawyer's application to be on the Nationwide conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have been told that property searches are a common reason for stalling in Harrogate conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Harrogate.
four months have elapsed since my purchase conveyancing in Harrogate took place. I have checked the Land Registry website which shows that I paid £150,000 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 property 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 Harrogate differ for newly converted properties?
Most buyers of new build property in Harrogate come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Harrogate typically buy the site, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Harrogate or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Harrogate is where the house is located. Is there any advice you can impart?
Flying freeholds in Harrogate are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Harrogate you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Harrogate 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.