I purchased a freehold property in Tenterden yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Tenterden and has limited impact for conveyancing in Tenterden 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I'm the single beneficiary of my late mum's estate and I have everything in my name alone, including the my former home in Tenterden. Conveyancing formalities meant that the Land Registry date was in October. I want to move. I do know about the Mortgage Lenders 6 month 'rule', meaning my proprietorship will be considered the same way as if I'd bought the house in October. Is the property unsalable for six months?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. Some banks would take a practical view as this obligation chiefly exists to identify subsales or the wholesaling and assigning of properties.
How can we know in advance if a Tenterden conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Tenterden obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor handling your conveyancing.
I was told two weeks ago that my mortgage has been agreed to by UBS. Is it usual for UBS to only issue the offer once my solicitor in Tenterden is approved on their conveyancing panel? UBS have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will my solicitor be making enquiries regarding flooding as part of the conveyancing in Tenterden.
Flooding is a growing risk for solicitors specialising in conveyancing in Tenterden. Plenty of people will buy a house in Tenterden, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a numerous searches that can be carried out by the buyer or by their solicitors which will give them a better appreciation of the risks in Tenterden. The conventional set of completed inquiry forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard question of the owner to discover if the premises has suffered from flooding. In the event that flooding has previously occurred and is not disclosed by the seller, then a purchaser may issue a legal claim for losses stemming from an inaccurate response. The purchaser’s solicitors should also conduct an enviro search. This will indicate if there is any known flood risk. If so, additional inquiries should be conducted.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Tenterden is the location of the property. What do you suggest?
Flying freeholds in Tenterden are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Tenterden you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tenterden may ascertain 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 property.
I have been advised by three or four local selling agents in Tenterden to find a property lawyer on your site. Is there a financial incentive for Estate Agents to recommend your lawyers over alternative conveyancing organisations?
We refuse to offer any financial incentive for pointing buyers and sellers to this site. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
At what stage do I pay stamp duty chargeable for my Tenterden flat purchase?
The majority of lawyers tend to fill out a Land Transaction Return Form for you as part of your Tenterden conveyancing transaction for you to sign. After completion your conveyancing practitioner will submit the Land Transaction Return Form to the Inland Revenue and - assuming they have the funds - pay any tax bill liability on your behalf.