I am the registered owner of a freehold premises in Polegate but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Polegate and has limited impact for conveyancing in Polegate 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 creation of new 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 after 2037 is to be extinguished.
I can see plenty of information on this site concerning conveyancing in Polegate but can you isolate your top tip for appointing the right conveyancer in Polegate
Do not opt for the cheapest Polegate conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Forgive me if this question is silly but I am unexperienced as a first time purchaser of a garden flat in Polegate. Do I receive the keys to the property on the completion date from my solicitor? If so, I will find a local conveyancing solicitor in Polegate?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the seller's conveyancers, and shortly after the monies have arrived, you should be able to pick up the keys from the property Agents and start moving into the property. Usually this happens early afternoon.
I am selling my flat. I had a double glazing fitted in September 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Lloyds are being difficult. The Polegate solicitor who is on the Lloyds conveyancing panel is recommending indemnity insurance as a solution but Lloyds are insisting on a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
It has been 3 months following my purchase conveyancing in Polegate completed. I have checked the Land Registry website 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 premises 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.
I decided to have a survey carried out on a house in Polegate ahead of appointing conveyancers. I have been told that there is a flying freehold element to the property. Our surveyor advised that some banks tend refuse to issue a loan on a flying freehold property.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. If you contact us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Polegate. Conveyancing may be slightly more expensive based on your lender's requirements.
I have recently realised that I have Fifty years left on my lease in Polegate. I am keen to get lease extension but my landlord is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the lessor. In some cases an enquiry agent may be helpful to try and locate and prepare an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the application to the County Court overseeing Polegate.
Polegate Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
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Is anyone aware of any major works on the horizon that could increase the maintenance costs? On the whole the cost for major works tend not to be built into the service charges, although a few managing agents in Polegate ask leasehold owners to pay into a reserve fund created for the specific purpose of establishing a fund for larger works. You should be aware that where the lease has fewer than eighty years it will affect the value of the apartment. It is worth checking with your lender that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will most likely require a lease extension sooner rather than later and it is worth discovering how much this will be. Remember, in most cases you would need to own the residence for 24 months before you are entitled to extend the lease.
We are hoping to buy a three bedroom housein Polegate with a loan from a bank. We like our solicitor in Polegate however our lender says he's not approved on their "panel". It seems we have little choice but to instruct one of the our bank panel solicitors or keep our Polegate conveyancer and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that our bank use our Polegate lawyer?
Unfortunately,no. The bank mortgage offered to you is subject to its terms and conditions, one of which will be that solicitors will on the bank's conveyancing panel. Until recently, most banks had open panels, including almost all conveyancing solicitors in Polegate : a mortgagee could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for your lender.