I purchased a freehold property in Ravenscourt Park but nevertheless charged rent, why is this and what is this?
It is rare for properties in Ravenscourt Park and has limited impact for conveyancing in Ravenscourt Park 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 generation 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 post 2037 will be extinguished.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Aldermore Conveyancing panel ahead of completing my conveyancing in Ravenscourt Park?
The first thing to point out is that, this is a very rare occurrence. 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.
When it comes to mortgage companies such as Santander, do Ravenscourt Park solicitors incur an annual charge to be on the conveyancing panel?
We are not aware of any bank fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
Completion of my purchase has taken place for my property in Ravenscourt Park. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
About to purchase house in Ravenscourt Park. 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 TSB 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 Ravenscourt Park conveyancing practitioner is on the TSB conveyancing panel.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when buying a property in Ravenscourt Park?
Unless a previous purchase of the property completed post 12 October 2013 you may expect lawyers conducting conveyancing in Ravenscourt Park to continue to suggest a chancel search and or chancel repair liability policy.
How does conveyancing in Ravenscourt Park differ for newly converted properties?
Most buyers of new build or newly converted property in Ravenscourt Park approach us having been asked by the seller to sign contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Ravenscourt Park tend to acquire 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 Ravenscourt Park or who has acted in the same development.
Expecting to complete next month on a ground floor flat in Ravenscourt Park. Conveyancing lawyers have said that they report fully next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Ravenscourt Park should include some of the following:
-
Does the lease prohibit wood flooring? Rent payments - what is payable and when is collected, and also know whether this is subject to change Responsibility for maintaining the window frames Will you be prohibited or prevented from having pets in the property? Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
Following years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Ravenscourt Park. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We are happy to put you in touch with a Ravenscourt Park conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Ravenscourt Park premises is 19 Crisp Road in June 2009. Following a vesting order (Under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993) The tribunal determined that the premium payable for the acquisition of the freehold was £33,756,apportioned as to£12,285 for the lower at and £21,471for the upper fat. This case related to 2 flats. The unexpired term was 68.32 years.