I own a freehold premises in Brandon but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Brandon and has limited impact for conveyancing in Brandon 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 new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Santander Solicitor panel ahead of completing my conveyancing in Brandon?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
About to purchase a new build apartment in Brandon. 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.
Here is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Brandon
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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. Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I opted to have a survey completed on a house in Brandon before appointing solicitors. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some banks will not issue a loan on a flying freehold house.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you e-mail us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Brandon. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to appoint a conveyancing solicitor for remortgage conveyancing in Brandon. I have chance upon a site which looks to be the perfect offering If it is possible to get all formalities done via web that would be ideal. Do I need to be concerned? 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?
We are midway through purchasing a residence in Brandon. Conveyancing lawyer has called to say the property is "Leasehold". Should this impact our Natwest valuation?
Brandon conveyancing does not in most situations involve leasehold houses. The main consideration here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's almost the same as freehold, so it shouldn't impact the value too much.
At the other end of the spectrum, if it's, say, Sixty years it is bound to have a significant impact on the value, and probably wouldn't be acceptable to the bank. The remaining lease term and ground rent will be stated in the lease to be supplied to your solicitor.