I own a freehold premises in Talsarnau yet charged rent, why is this and what is this?
It is rare for properties in Talsarnau and has limited impact for conveyancing in Talsarnau 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 fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
Various internet forums that I have visited warn that are the number one cause of obstruction in Talsarnau house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances in the conveyancing process. Searches are unlikely to feature in any holding up conveyancing in Talsarnau.
My wife and I have a semi-detached Victorian house in Talsarnau. Conveyancing practitioner represented me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Talsarnau and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with the conveyancing solicitor who conducted the work.
I am buying a new build house in Talsarnau with a mortgage from Alliance & Leicester . The builders refused to move on the amount so I negotiated £7000 of additionals instead. The property agent suggested that I not reveal to my lawyer about this side-deal as it will put at risk my mortgage with Alliance & Leicester . Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a simple, chain free conveyancing. Talsarnau is where the house is located. Can you shed any light on this issue?
Flying freeholds in Talsarnau are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Talsarnau you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Talsarnau may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
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At this site get a fixed fee costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Talsarnau. As opposed to estate agents and brokerage sites we do not charge firms a commission if you choose them for your property ownership legalities in Talsarnau