I own a freehold residence in Leatherhead but still invoiced for rent, why is this and what is this?
It is rare for properties in Leatherhead and has limited impact for conveyancing in Leatherhead 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.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
My fiance and I intend to purchase a newly converted apartment in Leatherhead with a mortgage from Birmingham Midshires.We have a Leatherhead conveyancing solicitor but Birmingham Midshires informed us he's not on their approved list of member firms. It seems we are left with little choice but to instruct a Birmingham Midshires panel solicitor or retain our local solicitor and fork out for a Birmingham Midshires panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Birmingham Midshires use our lawyer?
Unfortunately,no. The home loan issued to you is subject to its terms and conditions, a common one being that conveyancers needs to be on the Birmingham Midshires approved list. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Birmingham Midshires
Various web forums that I have visited warn that are the primary reason for hinderance in Leatherhead conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Leatherhead.
Me and my brother purchased a semi-detached Victorian house in Leatherhead. Conveyancing practitioner represented me and Platform Home Loans Ltd. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold with the exact same property. Is it worth asking Platform Home Loans Ltd to clarify?
You need to assess 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 Leatherhead and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing solicitor who conducted the purchase.
How does conveyancing in Leatherhead differ for new build properties?
Most buyers of new build premises in Leatherhead contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is constructed. This is because builders in Leatherhead usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Leatherhead or who has acted in the same development.
I'm buying a apartment in Leatherhead. I can find my conveyancer's company on the CLC list, but I can't find my lawyer's name as listed on the regulator's website. Is this a big problem?
Not every individual in the company must be listed by the regulator. As long there is someone qualified to 'oversee' the transaction, the actual day-to-day activity can be conducted by unqualified staff.