I own a freehold residence in North Finchley but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in North Finchley and has limited impact for conveyancing in North Finchley 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 establishment of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
How can we know in advance if a North Finchley conveyancing solicitor on the Virgin Money panel is any good?
When it comes to conveyancing in North Finchley getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor carrying out your transaction.
We have a mortgage agreed in principle with Principality. North Finchley conveyancing practitioners were selected. How long does it take for Principality to forward the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Principality done the survey? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Planning on purchasing a apartment in North Finchley. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Yorkshire BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the North Finchley property lawyer is on the Yorkshire BS conveyancing panel.
Do commercial conveyancing searches reveal impending roadworks that may affect a commercial land in North Finchley?
Its becoming the norm that commercial conveyancing solicitors in North Finchley will execute a SiteSolutions Highways report as it reduces the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in North Finchley. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in North Finchley.
For each commercial conveyancing transaction in North Finchley it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to North Finchley commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in North Finchley.
Are there restrictive covenants that are commonly picked up during conveyancing in North Finchley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in North Finchley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How do I use the search app to find a conveyancing lawyer in North Finchley on the panel for my lender?
Step one is to select a bank such as Birmingham Midshires, Leeds Building Society or TSB then specify your preferred area for example North Finchley. Conveyancing organisations in North Finchley and nationally will then be identified.
I am tempted by the attractive purchase price for a couple of apartments in North Finchley which have in the region of 50 years unexpired on the lease term. should I be concerned?
A lease is a right to use the property for a prescribed time frame. As the lease shortens the value of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this field.
I have given up trying to purchase the freehold in North Finchley. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We are happy to put you in touch with a North Finchley conveyancing firm who can help.
An example of a Lease Extension decision for a North Finchley property 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 unexpired term was 76 years.