I purchased a freehold property in Great Harwood but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Great Harwood and has limited impact for conveyancing in Great Harwood 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh 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.
My grandfather passed away 10 months ago and as sole heir and executor I was left the property in Great Harwood. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this possible?
Where you intend to refinance then Aldermore will insist on your using a conveyancer on the Aldermore conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aldermore conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aldermore mortgage is registered as a charge at the Land Registry.
I'm buying a new build house in Great Harwood with a loan from The Royal Bank of Scotland. The builders refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not inform my conveyancer about this extras as it will adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Great Harwood is where the house is located. Can you offer any assistance?
Flying freeholds in Great Harwood are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Great Harwood you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Great Harwood may decide 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 property.
All being well we will complete the disposal of our £400,000 flat in Great Harwood next Monday. The landlords agents has quoted £300 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Great Harwood?
Great Harwood conveyancing on leasehold apartments normally involves the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be content to assist. They are entitled to levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to complete the sale of your home.
Great Harwood Leasehold Conveyancing - Sample of Queries before Purchasing
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What is the length of the lease? It would be a good idea to discover if there are any onerous restrictions in the lease. For instance it is very common in Great Harwood leases that pets are not permitted in certain buildings in Great Harwood. If you like the apartmentin Great Harwood yet your cat can’t make the move with you then you will be faced difficult choice. Most Great Harwood leasehold properties will be liable to pay a service bill for the upkeep of the building levied by the freeholder. Where you buy the flat you will have to pay this amount, normally periodically accross the year. This can differ from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent for you to pay annual, this is usually not a significant amount, say approximately £50-£100 but you should to check it because sometimes it can be surprisingly expensive.
My mum and dad are experiencing problems in finding their Great Harwood property on the HMLR website. They have a vague memory 50 years ago when they bought the property there were complications regarding Great Harwood not being recognised in some systems.
Almost all premises in Great Harwood should appear. Have you endevoured to search with simply the postcode. Usually it should reveal all the houses and flats within that postcode. Assuming the property is registered it will show up with a title number. Where they bought fifty years ago it's conceivable it may be unrecorded. The property could still be revealed but with the title number identified as 'na'. In this scenario you will need to track down the original title papers which may be with your parent’s mortgage company.