I purchased a freehold residence in Northolt but still charged rent, why is this and what is this?
It is rare for properties in Northolt and has limited impact for conveyancing in Northolt 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 creation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
Can you clarify what the consequences are if my solicitor is removed from the Santander Solicitor panel ahead of completing my conveyancing in Northolt?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
It has been 2 months following my purchase conveyancing in Northolt completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Northolt differ for new build properties?
Most buyers of new build or newly converted property in Northolt come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is constructed. This is because house builders in Northolt usually purchase the land, 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 used to new build conveyancing in Northolt or who has acted in the same development.
My father-in-law has recommend that I instruct his conveyancers in Northolt. Do I follow his recommendation?
There are no two ways about it the ideal way to choose a conveyancing lawyer is to get feedback from friends or relatives who have previously instructed the solicitor you're are thinking of instructing.
I am in need of some leasehold conveyancing in Northolt. Before I get started I want to be sure as to the remaining lease term.
If the lease is registered - and almost all are in Northolt - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Despite our best efforts, we have been unsuccessful in seeking a lease extension in Northolt. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the amount due.
An example of a Lease Extension case for a Northolt premises is GFF 1 Holyrood Avenue in May 2014. The Tenant wished to acquire a new (extended) lease and applied to the Willesden County Court who granted a vesting order on 20* March2013. The Tribunal decied that the premium to be paid was £9,062 This case related to 1 flat. The unexpired term as at the valuation date was 79 years.