I own a freehold property in Poplar but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Poplar and has limited impact for conveyancing in Poplar 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 generation of fresh 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 in 2037 will be extinguished.
What is the difference between a licensed conveyancer and conveyancing solicitor in Poplar
Two types of professional can carry out conveyancing in Poplar namely CLC regulated conveyancers or solicitors. The two can handle the legal services that you need to complete the sale or acquisition of property. They are both duty bound to carry out Poplar conveyancing to the same quality and guidelines so you may be safe in the knowledge that your conveyancing will be properly carried out and that the necessary steps will be appropriately attended to.
My conveyancer has informed me that flying freehold insurance is necessary on my purchase. What is the level of cover for Poplar conveyancing?
The right level of flying freehold indemnity insurance should be dictated by who who your lender is. It would differ for example between Lloyds TSB Bank and Bank of Scotland. Conveyancing solicitors as opposed to borrowers take out such policies.
My fiancee and I are in the process of looking at apartments in Poplar and I am now considering a potential offer. Is it sensible to have a conveyancing practitioner on ‘stand by’? I am planning to take a mortgage with Coventry BS.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are seeking a mortgage with Coventry BS, make sure you remember to check that your lawyer is on the Coventry BS conveyancing panel.
About to purchase a new build apartment in Poplar. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Poplar
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I decided to have a survey done on a house in Poplar prior to appointing lawyers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some banks will refuse to give a loan on a flying freehold premises.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Poplar. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it best to use a Poplar conveyancing practitioner in close proximity to the house I am hoping to buy? An old friend can handle the conveyancing however her office is a couple of hundredkilometers drive away.
The primary upside of using a high street Poplar conveyancing practice is that you can visit the firm to sign documents, present your identification documents and pester them where appropriate. Having local Poplar know how is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and on the whole were happy that should outweigh using an unfamiliar Poplar conveyancing solicitor solely due to them being Poplar based.
Last November I purchased a leasehold flat in Poplar. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Poplar conveyancing firm to help?
Absolutely. We can put you in touch with a Poplar conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Poplar premises is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case related to 3 flats. The unexpired residue of the current lease was 101.61 years.