I am the registered owner of a freehold residence in Wembley Park but still charged rent, why is this and what is this?
It is rare for properties in Wembley Park and has limited impact for conveyancing in Wembley 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 post 1977.
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 dispensed with completely.
Will our conveyancer be asking questions about flooding during the conveyancing in Wembley Park.
The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Wembley Park. There are those who acquire a property in Wembley Park, completely aware that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, however there are a various searches that can be initiated by the purchaser or by their conveyancers which will give them a better understanding of the risks in Wembley Park. The standard property information forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the vendor to find out whether the premises has suffered from flooding. In the event that flooding has previously occurred and is not notified by the vendor, then a buyer could issue a legal claim for losses stemming from an inaccurate answer. A purchaser’s conveyancers should also commission an environmental report. This will reveal if there is any known flood risk. If so, further inquiries will need to be carried out.
It has been five months since my purchase conveyancing in Wembley Park concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Wembley Park. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Wembley Park
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There must be mutual enforceability of lessee’s covenants. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
How easy is it to use your search facility to select a conveyancing lawyer in Wembley Park on the authorised to act for my mortgage?
First choose a mortgage company such as HSBC Bank, Barnsley Building Society or Britannia then type in your preferred area for example Wembley Park. Conveyancing practices in Wembley Park and nationally should be shown.
There are a number of properties in Wembley Park on unadopted lanes. I am buying one such property. Are there any benefits to buying a house on a private road?
Wembley Park conveyancing solicitors will be well versed in transacting propertieson private. Your property lawyer should investigate Land Registry data to identify any rights or responsibilities. In many cases there is a management company (wholly owned by residents) that owners make annual contributions for the upkeep of the road. Where one exists, the road will likely be maintained and look nicer than council owned.