I am the registered owner of a freehold house in Crowborough but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Crowborough and has limited impact for conveyancing in Crowborough 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 generation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
We had appointed conveyancers based in Crowborough on the Coventry BS solicitor panel. They have just billed me a separate amount for the legal aspects of the Coventry BS mortgage. Is this an additional conveyancing fee specified by Coventry BS?
Provided it is contained in their Terms and Conditions or Quote then yes your solicitor can levy a fee for this. This charge is not set by Coventry BS but by your Crowborough lawyer. Numerous firms on the Coventry BS panel will levy ’dealing with mortgage’ fee and others do not.
I have today made my last payment due on my mortgage with Clydesdale. I assume I don't need a Crowborough lawyer on the Clydesdale panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Clydesdale mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Clydesdale mortgage from the register. Clydesdale, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
Intending to buy a house in Crowborough. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Crowborough conveyancing practitioner is on the Coventry BS conveyancing panel.
I decided to have a survey done on a house in Crowborough ahead of retaining lawyers. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some banks will refuse to issue a mortgage on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Crowborough. Conveyancing may be slightly more expensive based on your lender's requirements.
I am using a search engine for the words on line conveyancing in Crowborough it shows results of numerous property lawyersin the vicinity. With so much choice what is the best way to find the suitable property lawyer for me?
The ideal method of seeking a suitable conveyancer is through a trusted referral, so enquire of colleagues and relatives who have bought a property in Crowborough or the local estate agent or mortgage broker. Charges for conveyancing in Crowborough differ, so it's a good idea to secure at least four estimates from different property lawyers. Make sure that you know that the fees are fixed.
I am attracted to a two flats in Crowborough both have about fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold flat in Crowborough is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of buyers and banks, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Crowborough conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Crowborough Leasehold Conveyancing - Sample of Queries before buying
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What prohibitions exist in the Crowborough Lease? Where a Crowborough lease has fewer than 80 years it will have adverse implications on the marketability of the apartment. Check with your lender that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will most likely need a lease extension at some point and it is worth finding out how much this would cost. Remember, in most cases you would need to own the property for 24 months before you are eligible to extend the lease. The answer will be helpful as a) areas can cause problems in the block as the common areas may start to deteriorate if repairs remain unpaid b) if the leaseholders have a dispute with the managing agents you will need to have all the details
I cannot visit my Crowborough conveyancing solicitors office to execute documents connected to my conveyancing in Crowborough – will this be an issue?
No. Crowborough conveyancing lawyers can deal with home moves for clients across the country. It is not necessary for you to be able to be present a Crowborough conveyancers office. Almost all conveyancer can handle all communications remotely from their Crowborough premises.