I am the registered owner of a freehold house in North End but still charged rent, why is this and what is this?
It’s unusual for properties in North End and has limited impact for conveyancing in North End 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 generation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
We are aiming to move home in June. Will my conveyancing solicitor liaise with the removal company on the day of completion. On a separate note, can you suggest a removal company in North End. Conveyancing lawyer was found prior to coming across your website.
On the day of completion you can collect the house keys from your selling agent but this should only be done once the vendors solicitors advise the agent that they acknowledge receipt of the completion payment and the keys can be collected. After that you should advise the removal men that you are ready to move in. As a matter of policy we do not suggest a particular removal company but can help you find a conveyancing in North End or a lawyer with expertise in conveyancing in North End.
I am the only beneficiary of my late father’s estate with all property in now in my sole name, including the my former home in North End. The North End property was put into my name in February. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship may be treated the same way as if I'd bought the house in February. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. Most banks would take a pragmatic view as this obligation is primarily there to capture the purchase and immediately sell or the wholesaling and assigning of property.
The formalities of my purchase has taken place for my property in North End. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
How does conveyancing in North End differ for new build properties?
Most buyers of new build premises in North End approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is built. This is because house builders in North End 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 North End or who has acted in the same development.
I am looking for a flat up to £245,000 and identified one close by in North End I like with open areas and railway links in the vicinity, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in North End suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a home loan that many years may be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
Can you provide any advice for leasehold conveyancing in North End with the intention of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in North End can be avoided if you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers. In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? North End leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord approving such works. If you fail to have the consents to hand you should not contact the landlord without contacting your solicitor in the first instance. If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Organising a new share certificate is often a time consuming formality and frustrates many a North End home move. Where a reissued share is necessary, do contact the company officers or managing agents (if relevant) for this sooner rather than later. You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is below 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. Many freeholders or Management Companies in North End levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in North End.
Having spent years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in North End. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to decide the sum to be paid.
An example of a Lease Extension case for a North End residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The remaining number of years on the lease was 76 years.
We are thinking of instructing a web based conveyancer ahead of a North End conveyancing practice. Should I ‘stay local’?
Numerous benefits exist in being able to attend a local North End conveyancing solicitor such as
- signing papers and and when necessary
- getting face-to-face explanations of matters that you need help with
- the ability to complain if things are not going as expected
When comparing estimates, look carefully for hidden extras. The majority decent North End high street solicitors give an all-inclusive figure. Many online agents seem to offer low cost fees, yet have burried 'extras' in the fine print.