Please could you vouch for a HSBC Bank accepted Cann Hall conveyancing practice who can have us moved in within a very limited time frame? Am I best advised to unstruct a local Cann Hall firm or an internet firm?
We can recommend some very good Cann Hall conveyancing firms. Another option is to visit the main road in Cann Hall. Approach some well established firms and request to speak with a conveyancing solicitor for a costs illustration. Discuss your expectations together with the reasons and ask for an assurance on your deadline. Appoint the one that appears most efficient.
I purchased a freehold house in Cann Hall yet pay rent, why is this and what is this?
It’s unusual for properties in Cann Hall and has limited impact for conveyancing in Cann Hall 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.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I have been told that property searches are the primary cause of obstruction in Cann Hall conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Cann Hall.
I purchased a renovated Georgian house in Cann Hall. Conveyancing lawyer represented me and Barclays . I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the exact same address. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cann Hall and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing lawyer who carried out the work.
I am hoping to complete next month on a studio apartment in Cann Hall. Conveyancing solicitors assured me that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Cann Hall should include some of the following:
-
Repair and maintenance of the property Specifying your rights in relation to the communal areas in the block.E.G., does the lease provide for a right of way over an accessway or hallways? Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? The physical extent of the premises. This may be the property itself but may incorporate a roof area or cellar if relevant. Rent payments - what is due and when you need to pay, and also know whether this is subject to change
Despite our best efforts, we have been unsuccessful in trying to reach an agreement for a lease extension in Cann Hall. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the price.
An example of a Freehold Enfranchisement case for a Cann Hall flat is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case related to 2 flats. The unexpired term as at the valuation date was 73.92 years.
We own a leasehold flat in Cann Hall. Conveyancing was completed in 2011. I have heard that I should not allow the the remaining lease term to fall too short. Why is that a problem?
Cann Hall domestic long term leases are for a prescribed term - often just under one hundred years when they are first granted. However a significant flats in Cann Hall were built or converted in the 70’s80’s and so such leases now have fewer than 80 years unexpired. That may seem like plenty of time but Banks, Building Societies and other mortgage institutions generally need leases to have a minimum of 75 years left to adequate security. Accordingly when you come to sell the property you will need a lease extension if you are nearing 75 years. To enhance the marketability of your property you should be considering whether to extend your lease long before you come to sell it. Furthermore significant benefits to taking action before the lease reaches even 80 years as when the lease falls below eighty years the amount you have to pay to extend starts to increase.