I purchased a freehold premises in Benson yet charged rent, why is this and what is this?
It is rare for properties in Benson and has limited impact for conveyancing in Benson 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
Intending to buy a house in Benson. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Benson lawyer is on the Virgin Money conveyancing panel.
I have instructed a Benson conveyancing practitioner having made sure that they are on the Barclays conveyancing panel. Does my lawyer arrange the survey of the property?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Benson postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in Benson.
Kent Reliance have agreed my home loan in principle, my bid on a property in Benson has been agreed to, what happens next?
The property agent will wish to know who your solicitors are (make sure the conveyancers are on the lender’s panel). Call up Kent Reliance or your financial adviser and finalise any appropriate forms. Kent Reliance will instruct a valuer who will get in contact with the estate agent or vendor to arrange an appointment. Once carried out (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Kent Reliance 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 Benson.
About to purchase a new build flat in Benson. 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 legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Benson
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I am looking for a ground for flat up to £235,500 and found one close by in Benson I like with open areas and transport links nearby, however it's only got 52 years on the lease. I can't really find anything else in Benson in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease will be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
I am using a search engine for the phrase on line conveyancing in Benson it reveals many conveyancersin the area. With so much choice what is the best way to find the suitable conveyancing solicitor for my move?
The ideal way of seeking the right conveyancer is through a personal testimonial, so ask friends and family who have acquired a property in Benson or the respected estate agent or mortgage broker. Fees for conveyancing in Benson vary, so it's sensible to secure a minimum of four fee calculations from varying types of solicitors. Dont forget to clarify what costs in the quote includes.
I acquired a house in Benson last 25/9/2024 and to date it is still not recorded with HMLR. It is part of a development site and my conveyancing practitioner told me that it can take 12 months to register. I have called the Land Registry directly and they say that the initial application was cancelled due to questions not being addressed in time. Do I need to be concerned?
Call your solicitor - Where you are unsatisfied with the responses, look up their internal complaints procedure and amplify your problem to a Complaints Manager. Registrations for Benson conveyancing are not known to be significantly delayed.