I own a freehold premises in Hexham but still pay rent, why is this and what is this?
It is rare for properties in Hexham and has limited impact for conveyancing in Hexham 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 generation 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 after 2037 will be extinguished.
I am considering applying for a Bank of Ireland mortgage for purchase of a new build (under development) in Hexham with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Bank of Ireland ?
There is nothing to stop you using your solicitor, but Bank of Ireland will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I am assisting my mother sell her property in Hexham. Does the conveyancer order an EPC or it is for me to coordinate?
Following the abolition of Home Information Packs, energy assessments was retained a compulsory part of selling a property. An energy performance certificate needs to be to hand prior to the property being advertised. It is not something that law firms normally arrange. Where you are using a Hexham conveyancing lawyer they might be able to arrange energy assessments due to their contacts with reputable Hexham accredited person
We are getting the release of further funds on our mortgage from Skipton as we intend to carry out alterations to our home in Hexham. Are we obliged to select a bricks and mortar Hexham solicitor on the Skipton conveyancing panel to handle the paperwork?
Skipton do not ordinarily instruct firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton conveyancing panel.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Hexham solicitor - who is on the TSB conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB 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. You may wish to consider appointing your own Hexham surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I appreciate that there are debates on Chancel Insurance on online forums. Do I require this when acquiring a residence in Hexham? or I am told that there is a law dating back centuries that could mean that owners of property living in a parish church boundary will be compelled to pay for maintenance towards the chancel within the church. Is this appropriate for conveyancing in Hexham?
Unless a prior acquisition of the house completed after 12 October 2013 you could expect lawyers delivering conveyancing in Hexham to remain encouraging a chancel search and or insurance against a claim.
Me and my brother purchased a semi-detached Georgian house in Hexham. Conveyancing lawyer represented me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hexham and other locations in 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 lenders. You can also enquire as to the position with the conveyancing practitioner who conducted the purchase.
All being well we will complete the sale of our £250,000 apartment in Hexham in just under a week. The freeholder has quoted £300 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Hexham?
For the majority of leasehold sales in Hexham conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
-
Addressing pre-exchange questions
Where consent is required before sale in Hexham
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I purchased a 1 bedroom flat in Hexham, conveyancing having been completed March 2011. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Hexham with a long lease are worth £171,000. The ground rent is £50 levied per year. The lease ends on 21st October 2105
With 79 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.