My partner and I have lately purchased a property in Tadley. We have noticed several problems with the property which we believe were missed in the conveyancing searches. Is there anything we can do? Can you clarify the type of searches that needed to have been ordered as part of conveyancing in Tadley?
The question is vague as to the nature of the problems and if they are unique to conveyancing in Tadley. Conveyancing searches and investigations initiated during the buying process are designed to help avoid problems. As part of the process, a property owner fills in a questionnaire called a SPIF. answers ends up being misleading, you may have a misrepresentation claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Tadley.
I purchased a freehold premises in Tadley but nevertheless charged rent, why is this and what is this?
It is rare for properties in Tadley and has limited impact for conveyancing in Tadley 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 creation 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 post 2037 is to be extinguished.
About to place an offer on a leasehold flat in Tadley. The estate agents assure me that it is the norm for flats in Tadley to have less than 75 years left on the lease. I am obtaining a mortgage with Accord Mortgages. Will the property be mortgageable given that the lease has 70 years remaining.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 20/7/2024 the requirements read as follows :
Due to the input of my in-laws I had a survey completed on a property in Tadley ahead of retaining lawyers. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some banks tend not grant a loan on this type of property.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. Should you wish to call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Tadley. Conveyancing will be smoother if you use a solicitor in Tadley especially if they are acquainted with such properties in Tadley.
In what way can the Landlord & Tenant Act 1954 affect my commercial premises in Tadley and how can you help?
The 1954 Act gives security of tenure to commercial leaseholders, giving them the dueness to make a request to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act for protection and handle your commercial conveyancing in Tadley
Should one remove a deceased person's details from the title deeds for a house in Tadley?
If a Tadley property is co-owned and one of the owners passes away, the name will not immediately be removed from the Land Registry title. You are not required to amend the title as in the event of a sale your lawyer would just need to supply proof why the co owner is not included in the contract, such as the probate documents.
With a view to making the sale conveyancing more straight forward for the sale of the property you may apply to have the deceased party erased from the title by submitting an application to HM Land Registry with proof of the death. There is no land registry fee payable.