I am the registered owner of a freehold house in Heddon On The Wall but nevertheless charged rent, why is this and what is this?
It is rare for properties in Heddon On The Wall and has limited impact for conveyancing in Heddon On The Wall 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.
The deeds to our home can not be found. The solicitors who conducted the conveyancing in Heddon On The Wall 5 years ago no longer exist. What are my options?
As long as you have a registered title the information relating to your ownership will be documented by the Land Registry with a Title Number. It is possible to conduct a search at the Land Registry, identify your property and secure current copies of the Registered Entries for a small fee. If the title is Leasehold then the Land Registry will in most cases hold a file copy of the Registered Lease and again, a copy can be ordered for a small fee.
How does conveyancing in Heddon On The Wall differ for new build properties?
Most buyers of new build premises in Heddon On The Wall come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Heddon On The Wall typically buy the land, 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 property lawyers 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 Heddon On The Wall or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Heddon On The Wall prior to instructing lawyers. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some mortgage companies tend not issue a loan on such a house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. If you e-mail us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Heddon On The Wall. Conveyancing will be smoother if you use a solicitor in Heddon On The Wall especially if they are familiar with such properties in Heddon On The Wall.
I need to retain a conveyancing solicitor for sale conveyancing in Heddon On The Wall. I have stumble upon a web site which looks to be the ideal solution If it is possible to get all formalities completed via web that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
How much will conveyancing in Heddon On The Wall cost?
The total sum charged for Heddon On The Wall conveyancing costs are likely to be calculated at:
- a set charge; or
- an hourly rate (i.e. the time spent on the particular case).
These days very few Heddon On The Wall conveyancing solicitors invoice on an hourly basis