I own a freehold premises in Barrowden but still pay rent, why is this and what is this?
It’s unusual for properties in Barrowden and has limited impact for conveyancing in Barrowden 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh 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 extinguished.
My bid for a property was accepted at auction in Barrowden. Conveyancing is needed. What are my next steps?
Now that you are for all intents and purposes signed on the dotted line you now have to choose a conveyancing solicitor as a matter of urgency as you are facing a tight a fixed date to complete the transaction. All auction property should have a bespoke auction set of papers. This should include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the legal pack should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You should hand this to the lawyer instructed by you at the earliest opportunity. Do make sure that you have funds in order to complete the transaction on the set completion date.
I have paid off my mortgage with Aldermore. I assume I don't need a Barrowden lawyer on the Aldermore panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
Lloyds have agreed my home loan in principle, my bid on a property in Barrowden has been agreed to, now what?
The estate agent will need to know who your solicitors are (make sure the conveyancing practitioners are on the lender’s panel). Telephone Lloyds or your broker and finalise any relevant documentation. Lloyds will instruct a valuer who will get in contact with the estate agent or owners to book an appointment. Once conducted (assuming no problems) it takes on average ten days for the mortgage offer to be issued. Lloyds will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Barrowden.
Despite weeks of looking the Title Certificate and documents to my house are lost. The conveyancers who handled the conveyancing in Barrowden 4 years ago no longer exist. What do I do?
Nowadays there are duplicates made of almost everything, and your lawyer should know precisely where to find all the suitable paperwork so you may purchase or dispose of your property without a hitch. If duplicates can’t be found, your solicitor may be able to arrange cover in the form of insurance or indemnities against possible claims on the property.
I have been on the look out for a leasehold apartment up to £305k and found one close by in Barrowden I like with open areas and transport links nearby, however it only has 61 years on the lease. There is not much else in Barrowden in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the shortness of the lease may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
I am looking for a conveyancing lawyer in Barrowden for my house move. Is there any facility to check a firm’s complaints history with the legal regulator?
Anyone can see presented Solicitor Regulator Association (SRA) decisions arising from inquisitions commenced on or after Jan 2008. Visit Check a solicitor's record. For information Pre 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The SRA sometimes recorded call for training requirements.
I own a leasehold house in Barrowden. Conveyancing and The Mortgage Works mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Barrowden who acted for me is not around. What should I do?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. You do not need to instruct a Barrowden conveyancing practitioner 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 rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a leasehold flat in Barrowden, conveyancing was carried out in 2004. How much will my lease extension cost? Comparable properties in Barrowden with an extended lease are worth £180,000. The ground rent is £65 yearly. The lease runs out on 21st October 2083
With only 58 years unexpired we estimate the premium for your lease extension to be between £22,800 and £26,400 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.