I am the registered owner of a freehold premises in Barlborough yet invoiced for rent, why is this and what is this?
It is rare for properties in Barlborough and has limited impact for conveyancing in Barlborough 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 creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
My wife and I are buying a apartment in Barlborough. I might seem paranoid but how we can trust a conveyancer? At some point we will need to deposit funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
is it true that all Barlborough solicitor firms on the Nationwide conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Nationwide conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Some lenders do allow licenced conveyancers on their panel in which case such firms would be overseen by the Council of Licensed Conveyancers.
My wife and I are at the point of viewing apartments in Barlborough and I am about to put in an offer. Is it too early to have a solicitor in place? I intend to finance via a home loan with Skipton.
It would be sensible to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. As you are obtaining a mortgage with Skipton, ask your prospective lawyers if they are on the Skipton conveyancing panel otherwise they can't do the mortgage legal work.
It has been 2 months following my purchase conveyancing in Barlborough took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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 premises 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.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Barlborough is the location of the property. Is there any guidance you can impart?
Flying freeholds in Barlborough are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Barlborough you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Barlborough 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 need to find a conveyancing solicitor for my conveyancing in Barlborough. I have discover a site which appears to be the ideal answer If there is a chance to get all the legals done via phone that would be preferable. Do I need to be wary? What should out be looking out for?
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?
Estate agents have just been given the go-ahead to market my ground floor apartment in Barlborough. Conveyancing solicitors are to be appointed soon, however I have just had a yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal because all rents and maintenance payments will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a studio flat in Barlborough, conveyancing having been completed in 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Barlborough with a long lease are worth £265,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2101
You have 76 years left to run we estimate the premium for your lease extension to range between £8,600 and £9,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.