I purchased a freehold property in Dalston yet charged rent, why is this and what is this?
It is rare for properties in Dalston and has limited impact for conveyancing in Dalston 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 fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Are the BSA planning on creating a online directory to list law firms on the Loughborough BS conveyancing panel for example in Dalston?
We have not been informed any intention on the part of the BSA to develop such a register.
My wife and I are purchasing a flat in Dalston. It might be a silly question but how we can trust a conveyancer? At some point we have to deposit funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Dalston conveyancing practitioner on the Yorkshire BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Yorkshire BS 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 Yorkshire BS mortgage from the register. Yorkshire BS, 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 Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
I am due to exchange contracts on my flat. I had a double glazing fitted in April 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Co-operative are being a right pain. The Dalston solicitor who is on the Co-operative conveyancing panel is saying indemnity insurance will be fine but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I decided to have a survey carried out on a house in Dalston ahead of retaining solicitors. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some banks may not give a loan on this type of house.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. If you contact us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Dalston. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Dalston to see if the conveyancing costs will increase in light of this.
My cousin has recommend that I use his lawyers for conveyancing in Dalston. Should I choose my own solicitor?
There are no two ways about it the ideal way to find a conveyancing lawyer is to have referrals from friends or relatives who have actually experience in using the conveyancer that you are are thinking of instructing.
We have reached the end of our tether in trying to purchase the freehold in Dalston. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to make a decision on the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Dalston property is 150 Amhurst Road in December 2013. The tribunal concluded that the premium to be paid by the applicant for the enfranchisement of the subject property was £43,500. This case affected 4 flats. The unexpired residue of the current lease was 90 (or thereabouts).
In relation to leasehold conveyancing in Dalston what are the most frequent lease problems?
Leasehold conveyancing in Dalston is not unique. All leases are unique and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
-
A duty to insure the building Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Coventry Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.