I am the registered owner of a freehold house in Lower Clapton yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Lower Clapton and has limited impact for conveyancing in Lower Clapton 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 date back 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 in 2037 is to be dispensed with completely.
I am considering remortgaging my flat in Lower Clapton, does my lawyer need to be on the Bank of Ireland Conveyancing panel?
There is nothing to stop you using your solicitor, but Bank of Ireland will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Lower Clapton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Lower Clapton
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I decided to have a survey carried out on a property in Lower Clapton prior to instructing lawyers. I have been advised that there is a flying freehold element to the house. My surveyor advised that some mortgage companies may not grant a loan on such a property.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. Should you wish to telephone us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Lower Clapton. Conveyancing will be smoother if you use a solicitor in Lower Clapton especially if they are acquainted with such properties in Lower Clapton.
Am I right to be suspicious that brokers that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a local Lower Clapton conveyancing company?
As is the case with many professional services, often input from family and friends can be worth their weight in gold. Yet there are lots of parties with a vested interest in a conveyancing matter; estate agents, mortgage brokers and lenders might all suggest solicitors to use. Sometimes the conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there exists a commercial relationship behind the endorsement. You are free to select your preferred conveyancer. However, bear in mind that the majority of lenders operate an approved list of conveyancers you are obliged to use for the mortgage related work in your conveyancing.
When it comes to my conveyancing in Lower Clapton should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Lower Clapton conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancing practitioner's time in submitting the funds this way.