I am the registered owner of a freehold house in Reading yet invoiced for rent, why is this and what is this?
It is rare for properties in Reading and has limited impact for conveyancing in Reading 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 fresh rentcharges from 1977 onwards.
Old 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 dispensed with completely.
What is the difference between a licensed conveyancer and conveyancing solicitor in Reading
There are two types of lawyers who can perform conveyancing in Reading namely CLC regulated conveyancers or solicitors. Both professionals administer conveyancing services that you need to complete the disposal or purchase of property. Both are required to conduct Reading conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be professionally carried out and that all necessary steps should be suitably taken.
Can you point me to a directory of HSBC panel conveyancers in Reading on the Council of Mortgage Lender’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of mortgage companies make their panel listings visible online. If you are seeking to appoint a Reading property lawyer on the HSBC please use our tool.
We are getting the release of further monies on our home loan from UBS as we wish to carry out a loft conversion to our house in Reading. Are we obliged to select a high street Reading solicitor on the UBS conveyancing panel to deal with the paperwork?
UBS don't usually require a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS panel.
I need some fast conveyancing in Reading as I have an ultimatum to sign on the dotted line inside 3 weeks. A home loan is not required. Is it possible to escape the need for conveyancing searches to save money and time?
If.Given you are are a mortgage free buyer you are at free not to have searches carried out although no law firm would suggest that you don't. With plenty of history conveyancing in Reading the following are instances of issues that can show up and adversely affect future saleability: Refused Planning Applications, Overdue Fees, Overdue Grants, Railway Schemes,...
It has been 2 months following my purchase conveyancing in Reading took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. 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 property 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 am buying a new build apartment in Reading. 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.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Reading
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
Having had my offer accepted I require leasehold conveyancing in Reading. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is registered - and most are in Reading - 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.
I bought a basement flat in Reading, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Reading with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 per annum. The lease comes to an end on 21st October 2077
With 57 years remaining on your lease we estimate the premium for your lease extension to span between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.