I own a freehold residence in Grays but nevertheless pay rent, why is this and what is this?
It is rare for properties in Grays and has limited impact for conveyancing in Grays 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment 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 is to be dispensed with completely.
My husband and I wish to acquire a newbuild apartment in Grays with a mortgage from Britannia.We use our Grays conveyancing lawyer but Britannia says she’s not listed on their "panel". we are left little option but to use a Britannia panel lawyer or keep our high street solicitor and fork out for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Britannia use our lawyer?
Unfortunately,no. The loan issued to you contains terms and conditions, one of which will be that conveyancers will be on the Britannia approved list. in the past, most lenders had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Britannia
I purchased a terraced Edwardian house in Grays. Conveyancing practitioner acted for me and Britannia. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to 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 Grays and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing practitioner who conducted the conveyancing.
I'm buying my first flat in Grays benefiting from help to buy. The builders would not budge the price so I negotiated £7000 of additionals instead. The estate agent told me not to tell my lawyer about the side-deal as it would put at risk my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am selling my home. My past lawyers closed down. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Grays if that makes a difference.
Please use our search tool to help you choose a solicitor for your conveyancing in Grays. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
What advice can you give us when it comes to appointing a Grays conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Grays conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Grays conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
-
What are the costs for lease extension conveyancing? Can they put you in touch with clients in Grays who can give a testimonial?
We have reached the end of our tether in trying to purchase the freehold in Grays. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Grays conveyancing firm who can help.
An example of a Lease Extension decision for a Grays residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The unexpired lease term was 76 years.