I am the registered owner of a freehold house in Hertfordshire yet invoiced for rent, why is this and what is this?
It is rare for properties in Hertfordshire and has limited impact for conveyancing in Hertfordshire 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 post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
4 months have elapsed since my purchase conveyancing in Hertfordshire concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying my first flat in Hertfordshire with a loan from Yorkshire Building Society. The sellers would not budge the price so I negotiated £7000 of additionals instead. The property agent suggested that I not inform my solicitor about this extras as it could impact my mortgage 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.
Over the last few months I have been searching for a flat up to £245,000 and found one near me in Hertfordshire I like with amenity areas and station nearby, however it only has 52 years unexpired on the lease. There is not much else in Hertfordshire suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan that many years will be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
Taking into account that I am about to spend 450k on a garden flat in Hertfordshire I wish to talk to a conveyancer concerning thehouse move in advance of instructing the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the conveyancer who will be carrying out your conveyancing in Hertfordshire.There is no ‘factory style conveyancing’ - every client is an important individual, not a file reference. The law firms that we put you in touch with believe that the figure you are provided with for your conveyancing in Hertfordshire should be the figure that you end up paying.
Last July I purchased a leasehold house in Hertfordshire. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Hertfordshire - Examples of Questions you should ask Prior to Purchasing
-
Make sure you enquire if the the lease includes any adverse restrictions in the lease. By way of example some leases prohibit pets being permitted in in a block in Hertfordshire. If you love the apartmentin Hertfordshire however your cat is not allowed to move with you then you will be presented with a difficult decision. Are any of leasehold owners in dispute over their service charge liability? Generally speaking the outlay for major works are not built into the service charges, albeit that there some managing agents in Hertfordshire ask tenants to contribute towards a sinking fund and this is used to offset against larger works.