I purchased a freehold premises in Lutterworth but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Lutterworth and has limited impact for conveyancing in Lutterworth 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 many centuries, but the Rent Charge Act 1977 barred the generation of fresh 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 will be dispensed with completely.
My wife and I are spending time looking at apartments in Lutterworth and I am now considering a potential offer. Is it best to have my solicitor on ‘stand by’? I intend to finance via a mortgage with UBS.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are taking out a mortgage with UBS, make sure you remember to check that your lawyer is on the UBS conveyancing panel.
I am currently in the process of buying my council flat in Lutterworth. I have a mortgage offer with RBS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.
Virgin Money have agreed my mortgage in principle, my offer on a flat in Lutterworth has been agreed to, what are the next steps?
The estate agent will wish to know who your solicitors are (be sure the conveyancing practitioners are on the bank’s approved list). Telephone Virgin Money or your broker and finish off any outstanding documentation. Virgin Money will instruct a valuer who will get in contact with the estate agent or seller to schedule a slot for the valuation to occur. Once carried out (assuming no problems) it takes on average ten days to receive the mortgage offer. Virgin Money will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Lutterworth.
I have been told that property searches are a common reason for stalling in Lutterworth house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Lutterworth.
Due to the encouragement of my in-laws I had a survey completed on a house in Lutterworth in advance of retaining lawyers. I have been told that there is a flying freehold element to the property. The surveyor advised that some banks tend refuse to give a loan on this type of premises.
It varies from the lender to lender. HSBC has different instructions from Nationwide. If you contact us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Lutterworth. Conveyancing may be slightly more expensive based on your lender's requirements.
I've recently bought a leasehold flat in Lutterworth. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Lutterworth Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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Its a good idea to discover as much as you can regarding the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to day to day matters like the tidiness of the communal areas. Ask other tenants if they are happy with them. Finally, investigate as to the dates that the service fees are due to the appropriate party and precisely what it includes. Are there any major works anticipated that could increase the service costs?
A licensed conveyancer acted on my conveyancing in Lutterworth four years ago having archived my deeds but has now closed – What steps do I now take to get hold of them?
Title deeds, as such, no longer exist as the majority of homes in Lutterworth are recorded electronically at Land Registry. Where you need to prove ownership or are selling or re-mortgaging your conveyancer can obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned as quickly as possible.