I own a freehold premises in New Barnet but still charged rent, why is this and what is this?
It is rare for properties in New Barnet and has limited impact for conveyancing in New Barnet 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.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
I am buying a property and need a conveyancing solicitor in New Barnet who is on the Chelsea Building Society solicitor. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Chelsea Building Society in certain locations such as New Barnet. We dont recommend any particular firm.
I am purchasing a property and the solicitor has identified Chancel Repair for which the property could be liable because it falls into the area of such a church. She has recommended insurance. Is this really required for conveyancing in New Barnet
Unless a prior acquisition of the property completed after 12 October 2013 you could expect lawyers carrying out conveyancing in New Barnet to remain encouraging a chancel search and or insurance against a claim.
How does conveyancing in New Barnet differ for newly converted properties?
Most buyers of new build property in New Barnet come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is built. This is because house builders in New Barnet typically buy the site, 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 conveyancers 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 New Barnet or who has acted in the same development.
What does commercial conveyancing in New Barnet cover?
New Barnet conveyancing for business premises incorporates a broad array of advice, supplied by regulated solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I own a leasehold house in New Barnet. Conveyancing and Coventry Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in New Barnet who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a New Barnet conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
We have reached the end of our tether in seeking a lease extension in New Barnet. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the price payable.
An example of a Lease Extension case for a New Barnet flat is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The remaining number of years on the lease was 76 years.