I own a freehold residence in The Park yet pay rent, why is this and what is this?
It’s unusual for properties in The Park and has limited impact for conveyancing in The Park 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 generation 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 will be extinguished.
I am assisting my mother sell her house in The Park. Will the conveyancing solicitor order the energy performance certificate or it is for me to see to?
Following the demise of Home Packs, EPC’s was retained a compulsory part of moving property. An EPC should be commissioned prior to the property being advertised. This is not a task that conveyancers ordinarily organise. If you are using a The Park conveyancing lawyer they may be able to arrange EPC’s given their relationships with reputable local providers
When it comes to lenders such as Aldermore, do The Park solicitors incur a fee to be on the list of approved solicitors?
We are unaware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
After months of negotiation I have agreed a price on a house in The Park. My financial adviser pressured me to appoint their property lawyer. I paid an upfront payment of £175. Soon after, the conveyancer contacted me embarrassingly acknowledging that they were not on the Kent Reliance conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Kent Reliance panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I need some fast conveyancing in The Park as I am under a deadline to sign on the dotted line inside 3 weeks. A home loan is not required. Can I avoid the conveyancing searches to save money and time?
As you are not taking a mortgage you are at free not to do searches although no solicitor would advise that you don't. Drawing on years of experience of conveyancing in The Park the following are examples of issues that can be revealed and therefore impact future saleability: Refused Planning Applications, Overdue Fees, Outstanding Grants, Road Schemes,...
Me and my brother purchased a 4 bedroom Georgian house in The Park. Conveyancing lawyer represented me and Nottingham 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 with the matching address. Is it worth asking Nottingham Building Society to clarify?
You should review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in The Park and other areas of 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 mortgage companies. You can also check the position with your conveyancing lawyer who conducted the purchase.
Back In 2002, I bought a leasehold house in The Park. Conveyancing and Clydesdale mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in The Park who acted for me is not around. Any advice?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a The Park conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Leasehold Conveyancing in The Park - Examples of Queries Prior to Purchasing
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Is anyone aware of any major works anticipated that will add a premium to the maintenance costs? The answer will be important as a) areas may cause problems for the block as the common areas may start to deteriorate if repairs remain unpaid b) if the tenants have an issue with the running of the building you will need to have all the details
I today plan to offer on a house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in The Park. Conveyancing advisers have are about to be instructed. Will they explain the issues?
The majority of houses in The Park are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in The Park so you should seriously consider shopping around for a The Park conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your lawyer should advise you fully on all the issues.