I own a freehold property in Romford but still pay rent, why is this and what is this?
It’s unusual for properties in Romford and has limited impact for conveyancing in Romford 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 establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
My fiance and I are hoping to buy a newbuild flat in Romford with a homeloan from Yorkshire Building Society.We would like to retain our Romford conveyancing practitioner but Yorkshire Building Society advised that her practice is not listed on their approved list of firms. We have to appoint a Yorkshire Building Society panel firm or keep our preferred solicitor and pay for a Yorkshire Building Society panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Yorkshire Building Society use our lawyer?
Unfortunately,no. The home loan offered to you contains terms and conditions, a common one being that solicitors needs to be on the Yorkshire Building Society approved list. in the past, most mortgage companies had large numbers of law firms on their panels: a borrower could find 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for Yorkshire Building Society
We are purchasing a property and the lawyer has mentioned Chancel Repair for which the property could be liable as it falls into the area of such a church. She has recommended insurance. Is this strictly required for conveyancing in Romford
Unless a prior acquisition of the premises completed after 12 October 2013 you may expect solicitors conducting conveyancing in Romford to remain recommending a chancel search and or chancel repair liability insurance.
I'm converting the mortgage on my current property to a BTL mortgage with Barclays and intend to use the remaining equity towards further property. The area we are talking about is Romford. Will your conveyancers be able to act for both sets of lenders and link together the transactions?
Make use of our comparison tool on this site to check that the solicitors are approved by both mortgage companies. Assuming that they are your solicitor should be able to simultaneously deal with the two transactions but you should have a chat with you lawyer and make clear your expectations and requirements.
In my capacity as executor for the will of my aunt I am disposing of a house in Cardiff but live in Romford. My solicitor (who is 260 kilometers awayrequires that I execute a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing practitioner in Romford who can attest this legal document for me?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are Romford based
I work for a long established estate agency in Romford where we have experienced a number of leasehold sales put at risk as a result of short leases. I have been given conflicting advice from local Romford conveyancing solicitors. Could you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Romford conveyancing firm to help?
if there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to assess the price.
An example of a Lease Extension decision for a Romford residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired term as at the valuation date was 57.5 years.