I am the registered owner of a freehold property in Cockfosters but still invoiced for rent, why is this and what is this?
It is rare for properties in Cockfosters and has limited impact for conveyancing in Cockfosters 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 one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Me and my brother have a 4 bedroom Edwardian house in Cockfosters. Conveyancing lawyer represented me and HSBC Bank. 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 matching property. Is it worth asking HSBC Bank to clarify?
You should review the Freehold register you have again and check the Charges Register as there may be 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 Cockfosters and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with the conveyancing lawyer who conducted the purchase.
I'm purchasing my first flat in Cockfosters with a mortgage from Barclays Direct. The builders refused to budge the price so I negotiated five thousand pounds worth of extras instead. The sale representative advised me not reveal to my conveyancer about this side-deal as it will jeopardize my mortgage with the lender. Do I keep my lawyer in the dark?.
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.
I decided to have a survey carried out on a house in Cockfosters before instructing solicitors. I have been told that there is a flying freehold element to the house. My surveyor advised that some mortgage companies will refuse to issue a mortgage on a flying freehold home.
It varies from the lender to lender. HSBC has different instructions from Halifax. If you call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cockfosters. Conveyancing may be slightly more expensive based on your lender's requirements.
We're first time buyers - had an offer accepted, yet the selling agent informed us that the owners will only proceed if we appoint their preferred lawyers as they need a ‘quick sale’. My instinct tells me that we should use a local conveyancer with experience of conveyancing in Cockfosters
It is unlikely the sellers are driving this. If they want ‘a quick sale', alienating a motivated purchaser is counter productive. Try to communicate with the owners directly and make the point that (a)you are motivated buyers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you are going to appoint your own,trusted Cockfosters conveyancing solicitors - as opposed tothose that will give the negotiator at the agency a commission or meet his conveyancing thresholds pre-set by HQ.
Me and myfiance and I are are looking to find a responsive conveyancing solicitor in Cockfosters to purchase a flat. I I am fearful of being overcharged and there are plenty Cockfosters conveyancing firms out there...who do I opt for?
An independent personal recommendation via a person who has instructed a conveyancing lawyer before is always a good thing. You are likely to know someone who has used a conveyancing lawyer previously. Feel free to make the most of our tool to compare Cockfosters conveyancing quotes