I purchased a freehold residence in Holborn yet invoiced for rent, why is this and what is this?
It is rare for properties in Holborn and has limited impact for conveyancing in Holborn 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 many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
We are close to exchanging contracts on the sale of our house in Holborn and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A high street Holborn conveyancer would know that there is no such problem. It does beg the question why the buyers instructed a national conveyancing practice rather than a conveyancing solicitor in Holborn. Having lived in Holborn for 4 years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain clarification need.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I am purchasing my first flat in Holborn with the aid of help to buy. The developers refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The property agent advised me not inform my conveyancer about this deal as it may adversely affect my loan with the bank. 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've recently found out that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Holborn is the location of the property. What do you suggest?
Flying freeholds in Holborn are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Holborn you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Holborn 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 premises.
I am looking to sell my property. My former solicitors have shut. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Holborn if that affects matters.
You should use our search tool to help you find a solicitor for your conveyancing in Holborn. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
Your search tool is useful but there are many lawyers listed near Holborn being on the mortgage company conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the mortgage company approved panel?
We do not recommend specific Holborn firms as the right Holborn conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Holborn knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..