I purchased a freehold house in Teddington but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Teddington and has limited impact for conveyancing in Teddington 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 post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
My wife and I are close to exchanging contracts on the sale of our home in Teddington and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. Any local conveyancer would know this is not the case. For the life of me I don't know why the buyers are using a national conveyancing firm as opposed to a conveyancing solicitor in Teddington. We have lived in Teddington for many years we know that this is a non issue. Do we get in touch with our local Authority to obtain confirmation need.
It sounds as though you may have a conveyancing lawyer already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I purchased a 4 bedroom Georgian house in Teddington. Conveyancing practitioner acted for me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the exact same address. Is it worth asking Leeds Building Society to clarify?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Teddington and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing lawyer who carried out the work.
I am buying my first flat in Teddington with the aid of help to buy. The developers would not move on the price so I negotiated £7000 of additionals instead. The estate agent advised me not to tell my conveyancer about the deal as it will adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
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 opted to have a survey completed on a property in Teddington before retaining solicitors. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some banks tend refuse to grant a mortgage on such a home.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. If you contact us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Teddington. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Teddington to see if the conveyancing costs will increase in light of this.
I have been pointed in your direction by numerous selling agents in Teddington to locate a property lawyer on your site. What’s the financial upside for Estate Agents to promote your lawyers ahead of alternative conveyancing organisations?
We don’t give any financial incentive for pointing buyers and sellers in our direction. We found it would be just too difficult a fee because members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.