I purchased a freehold residence in Farringdon but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Farringdon and has limited impact for conveyancing in Farringdon 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 generation of new 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 in 2037 will be extinguished.
I have been told that property searches are the main reason for hinderance in Farringdon conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of holding up conveyancing in Farringdon.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Farringdon is the location of the property. What do you suggest?
Flying freeholds in Farringdon are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Farringdon you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Farringdon may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Given that I will soon part with £400,000 on a house in Farringdon I would like to talk to a solicitor regarding thehouse move prior to instructing the firm. Can this be arranged?
This is something that we recommend - we would be happy to talk to you we do not take any clients on without you liaising with the conveyancer due to be conducting your property ownership legalities in Farringdon.There is no ‘factory style conveyancing’ - each client is unique individual, not a matter reference. The law firms that we put you in touch with believe that the fees you are provided with for your conveyancing in Farringdon should be the figure that you are charged.
I am thinking of appointing a conveyancing practitioner in Farringdon for my home move. Can I check a firm’s complaints history with the profession’s regulator?
Members of the public can review presented Solicitor Regulator Association (SRA) determinations arising from inquisitions started on or after Jan 2008. Go to Check a solicitor's record. For records Pre 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The SRA sometimes monitor call for training purposes.
I own a leasehold house in Farringdon. Conveyancing and The Royal Bank of Scotland mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Farringdon who previously acted has now retired. Any advice?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to instruct a Farringdon conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
My wife and I have hit a brick wall in trying to purchase the freehold in Farringdon. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We can put you in touch with a Farringdon conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Farringdon residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The unexpired residue of the current lease was 66.8 years.