I am the registered owner of a freehold property in Wynyard but nevertheless pay rent, why is this and what is this?
It is rare for properties in Wynyard and has limited impact for conveyancing in Wynyard 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 establishment of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
Have purchased a a terraced house in Wynyard , What is the estimated time for the Land Registry to register my ownership? My Wynyard conveyancing solicitor works at snail pace, so I want to be sure the registration is addressed.
There is nothing unique about conveyancing in Wynyard registration formalities. Rather than based on location, timeframes can differ according to who lodges the application, whether there are errors and whether the Land registry must send notices to any third parties. As of today in the region of 80% of such applications are completed within two weeks but occasionally there can be extensive hold-ups. Registration occurs once the new owner is living at the premises so post completion formalities is not always top priority yet where there is a degree of urgency associated with the registration then you or your conveyancer can communicate with the Registry to express the reasoning for the application to be prioritised.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one round the corner in Wynyard I like with open areas and transport links nearby, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Wynyard for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage the shortness of the lease will be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
Should I be concerned that estate agents that I am dealing with are suggesting an online conveyancing firm as opposed to a local Wynyard conveyancing practice?
As with many professional services, often recommendations from family and friends can be worth their weight in gold. Nevertheless there are numerous parties with a vested interest in a conveyancing matter; estate agents, mortgage brokers and mortgage companies may recommend conveyancers to choose. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there may be a commercial relationship behind the recommendation. You are at liberty to appoint your own lawyer. Don't forget that the majority of lenders operate an approved list of law firms you must use for the mortgage aspect of your house move.
I need to appoint a conveyancing solicitor for remortgage conveyancing in Wynyard. I've discover a web site which looks to be the perfect offering If there is a chance to get all this stuff done via phone that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
At long last our conveyancing in Wynyard is set to complete next Friday, yet the owners I am buying off has asked to vacate the next day at noon. Do I agree to such a plan?
You can't complete on a Saturday because the bank systems aren't working.