I am the registered owner of a freehold house in Plaistow but still invoiced for rent, why is this and what is this?
It is rare for properties in Plaistow and has limited impact for conveyancing in Plaistow 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 lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
Various online forums that I have come across warn that are the main reason for delay in Plaistow conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Plaistow.
How does conveyancing in Plaistow differ for newly converted properties?
Most buyers of new build property in Plaistow contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Plaistow usually purchase the real estate, 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 property lawyers 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 Plaistow or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a simple, chain free conveyancing. Plaistow is the location of the property. Can you offer any advice?
Flying freeholds in Plaistow are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Plaistow you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Plaistow may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am using a search engine for the term conveyancing in Plaistow it shows results of many conveyancerslocally. How do I determine which is the right property lawyer for my move?
The best way of seeking the right conveyancer is through a trusted testimonial, so seek the guidance of friends and those you trust who have bought a property in Plaistow or the respected estate agent or financial adviser. Fees for conveyancing in Plaistow differ, so it's advisable to request at least three fee estimates from varying types of law firms. Make sure that you know that the fees are fixed.
Living abroad I am unable to travel my Plaistow conveyancing practitioners office to execute documents connected to my conveyancing in Plaistow – will this be an issue?
Not a problem. Plaistow conveyancing lawyers can undertake conveyancing transactions for clients throughout the rest of the country. It is not necessary for you to be able to meet your lawyer in the flesh at a Plaistow conveyancers office. They can handle everything remotely from their Plaistow office.