I purchased a freehold residence in Hoddesdon but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Hoddesdon and has limited impact for conveyancing in Hoddesdon 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 new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Do I need to pop into the offices of the solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Hoddesdon so that I can attend their offices when needed.
As opposed to 12 years ago, most mortgage companies no longer need their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to provide identification documents and there are still manifest advantages to instructing a locally based solicitor, in your situation a conveyancing solicitor in Hoddesdon.
I understand that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when acquiring a house in Hoddesdon? or I am told that there is an ancient law that means some homeowners living in a parish church boundary may be liable to pay for maintenance to the chancel in proximity to the church. Is this appropriate for conveyancing in Hoddesdon?
Unless a prior purchase of the premises took place post 12 October 2013 you may expect conveyancing practitioners conducting conveyancing in Hoddesdon to continue to propose a a chancel search and or insurance against a claim.
How does conveyancing in Hoddesdon differ for newly converted properties?
Most buyers of new build or newly converted property in Hoddesdon contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because developers in Hoddesdon usually purchase 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 used to new build conveyancing in Hoddesdon or who has acted in the same development.
I am thinking of appointing a conveyancing practitioner in Hoddesdon for my home move. Is it possible to check a solicitor's complaints history with the profession’s regulator?
Members of the public may read documented Solicitor Regulator Association (SRA) determinations stemming from investigations started on or after 1 January 2008. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, dial +44 (0)121 329 6800. The SRA sometimes monitor call for training purposes.
I've found a house that seems to be perfect, at a great figure which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Hoddesdon. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Hoddesdon ?
Most houses in Hoddesdon are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Hoddesdon so you should seriously consider shopping around for a Hoddesdon conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.
Leasehold Conveyancing in Hoddesdon - A selection of Queries before Purchasing
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Is there a share of the freehold? Many Hoddesdon leasehold flats will have a service charge for the upkeep of the block invoiced on behalf of the management company. If you acquire the apartment you will have to pay this charge, usually in instalments throughout the year. This could differ from two or three hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a rentcharge to be met yearly, normally this is not a exorbitant figure, say approximately £25-£75 but you need to check as on occasion it can be many hundreds of pounds.