I am the registered owner of a freehold house in Low Moor yet pay rent, why is this and what is this?
It’s unusual for properties in Low Moor and has limited impact for conveyancing in Low Moor 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 new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
My wife and I have recently appointed a conveyancing solicitor in Low Moor. I I am struggling to find out if they are accepted on the The Mortgage Works approved list of lawyers. Can you help?
The first thing you should do is phone your lawyer and enquire whether they are on the lender panel. Alternatively you can get in touch with The Mortgage Works who may be able to confirm.
My conveyancer has informed me that lack of planning permission insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Low Moor?
The right level of lack of planning permission indemnity insurance depends on your lender. It would differ for example between Halifax and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.
I happen to be the sole beneficiary of my late father’s will with all property in now in my sole name, including the house in Low Moor. Conveyancing formalities meant that the Land Registry date was in May. I plan to dispose of the house. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship could be regarded the same way as if I'd bought the house in May. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How sensible a view mortgage companies take of it, depend on the mortgage company as this obligation is primarily there to identify the purchase and immediately sell or the flipping of properties.
I am selling my flat. I had a double glazing fitted in February 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nationwide are being problematic. The Low Moor solicitor who is on the Nationwide conveyancing panel is recommending indemnity insurance as a solution but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Are there restrictive covenants that are commonly identified as part of conveyancing in Low Moor?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Low Moor. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I've found a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Low Moor. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
The majority of houses in Low Moor are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are purchasing in Low Moor in which case you should be looking for a Low Moor conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.
Low Moor Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing
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Many Low Moor leasehold flats will be liable to pay a service bill for maintenance of the building invoiced on behalf of the landlord. Where you acquire the property you will have to pay this amount, normally periodically accross the year. This may differ from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a rentcharge to be met yearly, ordinarily this is not a significant amount, say approximately £25-£75 but you should to enquire it because sometimes it could be many hundreds of pounds. How many years are left on the lease?
Our conveyancing in Low Moor is completing on Friday, however the couple I am purchasing from has asked to move out on the Saturday at 2pm. Should I agree to such a idea?
In situations where you need a mortgage then your property lawyer will insist that the property isvacant on Friday - the mortgage company will require it.