I am the registered owner of a freehold premises in Downham but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Downham and has limited impact for conveyancing in Downham 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.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
My lawyer has informed me that lack of right of way insurance is required on my purchase. What is the level of cover for Downham conveyancing?
The right level of lack of right of way indemnity insurance should be dictated by who who your lender is. It would differ for example between HSBC Bank and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.
I am selling my apartment. I had a double glazing fitted in October 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Virgin Money are being problematic. The Downham solicitor who is on the Virgin Money conveyancing panel is recommending indemnity insurance as a solution but Virgin Money are insisting on a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money 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've read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Downham solicitor - who is on the Virgin Money conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Downham postcode. As you are getting a mortgage with Virgin Money, you could contact them to see if they have a list of approved surveyors in Downham.
I have a semi-detached Victorian house in Downham. Conveyancing solicitor acted for me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold with the exact same address. I thought I was buying a freehold how can I check?
You should assess 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Downham and other areas of 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 mortgage companies. You can also question the situation with your conveyancing practitioner who carried out the work.
I have been on the look out for a flat up to £245,000 and identified one near me in Downham I like with open areas and railway links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Downham for this price, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the remaining unexpired lease term will be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
My wife and I purchased a leasehold house in Downham. Conveyancing and Clydesdale mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Downham who previously acted has now retired. What should I do?
The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Downham conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a ground-floor 1950’s flat in Downham. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?
Most definitely. We can put you in touch with a Downham conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Downham premises is Ravensbourne Lodge 4 Highland Road in February 2013. the Tribunal held that the amount payable for the freehold was £22,268
I am purchasing a house and need a conveyancing solicitor in Downham who is on the bank solicitor panel. Can you recommend a Downham or local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the mortgage company who do conveyancing in Downham. We dont recommend any particular solicitor.