I purchased a freehold residence in Maulden but still invoiced for rent, why is this and what is this?
It is rare for properties in Maulden and has limited impact for conveyancing in Maulden 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 establishment 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 after 2037 is to be extinguished.
I have 71 years unexpired on my lease and need a lease extension for my flat in Maulden. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 25/11/2021 the requirements read as follows :
I am purchasing my first flat in Maulden with a mortgage from Barclays . The sellers refused to move on the amount so I negotiated £7000 of extras instead. The property agent suggested that I not reveal to my solicitor about this side-deal as it may impact my loan with Barclays . Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the guidance of my in-laws I had a survey completed on a property in Maulden before appointing solicitors. I have been informed that there is a flying freehold overhang to the house. My surveyor advised that some lenders may not give a loan on a flying freehold property.
It depends who your proposed lender is. HSBC has different requirements from Halifax. If you e-mail us we can investigate 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 Maulden. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Maulden to see if the conveyancing will be more expensive.
I am looking into buying my first house which is in Maulden and I am already nervous. I couldn't find anything specific about Maulden. Conveyancing will be needed in due course but do you know about the Maulden area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Maulden. In the meantime here are some basic statistics that we found
There are numerous houses in Maulden on private lanes. I am purchasing such a property. Are there any advantages to purchasing a residence on a privately owned road?
Maulden conveyancing practices will be used to transacting propertieson private. Your lawyer will investigate Land Registry data to identify any rights or responsibilities. In many cases there is a management company (wholly owned by residents) that owners make annual contributions for the upkeep of the road. If one exists, the road will likely be maintained and look better than publicly adopted.