I own a freehold house in Boscombe but nevertheless charged rent, why is this and what is this?
It is rare for properties in Boscombe and has limited impact for conveyancing in Boscombe 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.
Previous 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.
Do the Building Society Association intend to launch a search tool with a view to to identify solicitors on the Norwich and Peterborough Building Society conveyancing panel for instance in Boscombe?
Lexsure has not been advised of any plans on the part of the BSA to promote such a register.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Boscombe?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Boscombe. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm purchasing my first flat in Boscombe with a mortgage from Skipton Building Society. The developers would not reduce the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not to tell my solicitor about the side-deal as it would jeopardize my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I need to retain a conveyancing solicitor for my conveyancing in Boscombe. I happened to land on a web site which appears to be the ideal answer If it is possible to get all the legals completed via phone that would be ideal. Should I be concerned? 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?
If all goes to plan we aim to complete the sale of our £400,000 flat in Boscombe in just under a week. The landlords agents has quoted £396 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Boscombe?
For most leasehold sales in Boscombe conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
-
Completing pre-contract enquiries
Where consent is required before sale in Boscombe
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Boscombe Leasehold Conveyancing - Examples of Queries before buying
-
It is important to be aware if redecorating or some other significant cost is coming up to be shared between the tenants and could well materially increase the the maintenance costs or result in a specific payment. On the whole the cost for major works tend not to be wrapped into the service charges, albeit that some managing agents in Boscombe ask leasehold owners to contribute towards a reserve fund created for the specific intention of establishing a fund for larger works. It would be sensible to enquire if there is anything that is prohibited in the lease. For example it is fairly common in Boscombe leases that pets are not allowed in in a block in Boscombe. If you like the flatin Boscombe but your dog can’t move with you then you have a very hard decision.