I purchased a freehold residence in Camden yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Camden and has limited impact for conveyancing in Camden 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 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.
The deeds to our home are lost. The conveyancers who did the conveyancing in Camden 5 years ago no longer exist. What are my next steps?
Gone are the days when you need to have the physical deeds to evidence that you are the registered proprietor of land or property, given that the Land Registry hold details of all registered land or property electronically.
I'm purchasing a new build house in Camden with a loan from Lloyds TSB Bank. The builders would not budge the price so I negotiated five thousand pounds worth of extras instead. The property agent advised me not to tell my lawyer about the deal as it will put at risk my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Due to the advice of my in-laws I had a survey completed on a house in Camden prior to instructing solicitors. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies will refuse to issue a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Camden. Conveyancing will be smoother if you use a solicitor in Camden especially if they are acquainted with such properties in Camden.
What tools are available to locate a Camden solicitor on the The Royal Bank of Scotland conveyancing panel? I have wheels and am prepared to travel upto 20kilometers to meet the lawyer.
You can use the tool on this website. Please choose the bank and your location and you will see a number of Camden conveyancing lawyers based on proximity. We have detailed some Camden conveyancing firms towards the end of this page and you can telephone them to check whether they are on the The Royal Bank of Scotland approved list
When it comes to my conveyancing in Camden should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Camden conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.