I own a freehold property in Braintree but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Braintree and has limited impact for conveyancing in Braintree 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 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 is to be dispensed with completely.
we are a couple who are hoping to buy a purpose built apartment in Braintree with a residential mortgage from Barclays Direct.We have a Braintree conveyancing solicitor but Barclays Direct says her practice is not listed on their "panel". we are left little option but to use a Barclays Direct panel firm or retain our preferred solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Barclays Direct use our lawyer?
Unfortunately,no. The loan issued to you contains various provisions, a common one being that conveyancers will be on the Barclays Direct approved list. in the past, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Barclays Direct
I'm at the point of looking at apartments in Braintree and I am about to put in an offer. Is it wise to have a conveyancer on ‘stand by’? I am planning to take a home loan with Co-operative.
It would be sensible to commence 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 forward their details on to the EA. Given that you are obtaining a mortgage with Co-operative, make sure you remember to check that your lawyer is on the Co-operative conveyancing panel.
I am currently in the process of buying my council flat in Braintree. I have a mortgage offer with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
After much negotiation I have agreed a price on an apartment in Braintree. My mortgage broker recommended their conveyancers. I paid an advanced payment of £150. A few days later, the conveyancer called me embarrassingly acknowledging that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Braintree is the location of the property. Can you shed any light on this issue?
Flying freeholds in Braintree are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Braintree you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Braintree 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 premises.
I am downsizing from my property. My former solicitors have shut. It would be helpful to have a recommendation of a conveyancing firm. Im based in Braintree if that affects matters.
Please use our search tool to help you find a solicitor for your conveyancing in Braintree. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
I am hoping to sign contracts shortly on a ground floor flat in Braintree. Conveyancing lawyers inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Braintree should include some of the following:
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if lease provides for a reserve fund? Repair and maintenance of the premises Are pets allowed in the flat? What remedies are open the freeholder should you breach a clause of your lease? You must be informed what constitutes a Nuisance as far as the lease is concerned
I am the registered owner of a ground floor flat in Braintree, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Braintree with over 90 years remaining are worth £216,000. The ground rent is £50 invoiced annually. The lease ends on 21st October 2095
With just 69 years left to run the likely cost is going to span between £9,500 and £11,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.