I own a freehold residence in Colindale but still charged rent, why is this and what is this?
It is rare for properties in Colindale and has limited impact for conveyancing in Colindale 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 redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
My aunt passed away six months ago and as sole heir and executor I was left the house in Colindale. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to UBS, pay off the mortgage. Is this allowed?
Given you plan to refinance then UBS will insist on your using a conveyancer on the UBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your UBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the UBS mortgage is registered as a charge at the Land Registry.
Will my solicitor be making enquiries regarding flooding as part of the conveyancing in Colindale.
Flooding is a growing risk for lawyers dealing with homes in Colindale. There are those who buy a house in Colindale, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, however there are a various searches that can be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Colindale. The conventional set of completed inquiry forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the vendor to determine whether the premises has historically flooded. In the event that the residence has been flooded in past and is not revealed by the vendor, then a buyer may bring a claim for damages stemming from an misleading answer. A buyer’s lawyers may also conduct an enviro search. This will disclose whether there is any known flood risk. If so, further investigations should be made.
I acquired my apartment on 5 October and my personal details is yet to be registered. Any reason for this? My conveyancing solicitor in Colindale advises it will be formalised in a couple of weeks. Are properties in Colindale uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Colindale registration formalities. Rather than based on location, timeframes can vary subject to who lodges the application, whether there are errors and if the Land registry communicate with any interested parties. At present approximately 80% of submission are fully dealt with in less than three weeks but some can be subject to protracted hold-ups. Historically registration is effected once the buyer is living at the premises thus an expedited registration is not always top priority yet if it is urgent that the the registration takes place urgently then you or your solicitor could contact the land registry and explain the circumstances.
Are there any apps to assist me to search for a Colindale solicitor on the Yorkshire Building Society conveyancing panel? I drive a motor bike and am willing to travel upto 25kilometers to meet the lawyer.
Feel free to make use of the search on this website. Please select a bank and your location and you will see a number of Colindale conveyancing lawyers locally. We have listed some Colindale conveyancing firms at the bottom of this page and you can contact them to check whether they are on the Yorkshire Building Society approved list
I dont have enough spare cash to pay a 10% deposit on my flat purchase in Colindale , but I still want to exchange. What can I do?
One option is to try and accept a lower deposit. Many vendors will accept a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment