I am the registered owner of a freehold house in Tidworth but still pay rent, why is this and what is this?
It’s unusual for properties in Tidworth and has limited impact for conveyancing in Tidworth 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 new rentcharges from 1977 onwards.
Old 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 dispensed with completely.
I had intended to instruct a conveyancing solicitor in Tidworth for our house purchase. Our financial adviser informed us that our mortgage company Clydesdale won't deal with them. Surely this is unduly restrictive?
Banks normally restrict either the type or the number of conveyancing solicitors on their member panel. A common example of such criteria being that a firm must not be a sole practitioner. In addition to restricting the profile of firm, a few banks have reduced the amount of firms they allow to act for them. Be aware that Clydesdale have no responsibility for the quality of advice provided by any member of Clydesdale Conveyancer Panel. Mortgage fraud was a key driver in the reduction of solicitor panels a few years ago even though there are differing views regarding the level of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that hundreds of law firms, including some in or near Tidworth only conduct very few conveyances a year.
This question may be naive but I am new to the process as a first time purchaser of a garden flat in Tidworth. Do I receive the keys to the house on completion from my lawyer? If this is the case, I will appoint a High Street conveyancing solicitor in Tidworth?
On the day of completion you do not need to go to the conveyancers office in Tidworth. Your solicitors will arrange to send the completion advance to the seller's lawyers, and once they have received this, you will be able to collect the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
I am buying a end of terrace house in Tidworth. We would like to carry out an extension to the side at the property.Will legal due diligence on the property involve checks to determine if these works are permitted?
Your property lawyer should review the registered title as conveyancing in Tidworth will on occasion reveal restrictions in the title documents which restrict certain alterations or necessitated the consent of a 3rd party. Many extensions need local authority planning consent and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
I have a mortgage with Skipton for my property in Tidworth. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?
Your original mortgage agreement with Skipton will provide that you need their approval prior to letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. You need not do this via a Skipton conveyancing panel solicitor.
My wife and I own a 4 bedroom Edwardian house in Tidworth. Conveyancing solicitor acted for me and Chelsea Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the exact same property. Is it worth asking Chelsea 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tidworth and other locations in 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 lenders. You can also enquire as to the situation with your conveyancing solicitor who carried out the work.
How does conveyancing in Tidworth differ for newly converted properties?
Most buyers of new build residence in Tidworth approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Tidworth tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Tidworth or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one near me in Tidworth I like with a park and railway links nearby, however it only has 52 remaining years left on the lease. I can't really find anything else in Tidworth suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the shortness of the lease will be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.