I purchased a freehold house in Holmfirth but nevertheless charged rent, why is this and what is this?
It is rare for properties in Holmfirth and has limited impact for conveyancing in Holmfirth 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 generation 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 will be extinguished.
My grandmother passed away 10 months ago and as sole heir and executor I was left the house in Holmfirth. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this possible?
Where you intend to refinance then Skipton will require that you use a conveyancer on the Skipton 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 Skipton 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 Skipton mortgage is registered as a charge at the Land Registry.
4 months have gone by following my purchase conveyancing in Holmfirth completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 am looking for a flat up to £245,000 and identified one close by in Holmfirth I like with amenity areas and railway links in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in Holmfirth suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
I am using a search engine for the term on line conveyancing in Holmfirth it shows results of numerous solicitorsin the vicinity. How do I determine which is the right solicitor for me?
The ideal way of choosing the right conveyancer is through a personal recommendation, so enquire of friends and family who have acquired a property in Holmfirth or the respected estate agent or financial adviser. Costs for conveyancing in Holmfirth vary, so it's a good idea to obtain at least three estimates from varying types of property lawyers. Dont forget to clarify what costs in the quote includes.
One month into purchasing a property in Holmfirth. Conveyancing solicitor has told us the title is "Leasehold". Does this make a difference on the salability of the house?
Holmfirth conveyancing does not in most situations involve leasehold houses. The key factor here is the remaining lease term and the ground rent. If there are hundred of years years remaining with a nominal rent, it's virtually freehold, so it shouldn't impact the saleability significantly.
At the other end of the spectrum, if it's, say, fifty five years it will have a significant effect on the value, and most likely wouldn't be mortgageable. The length of lease and ground rent will be stated in the lease to be supplied to your conveyancer.