I am the registered owner of a freehold property in Luton yet pay rent, why is this and what is this?
It is rare for properties in Luton and has limited impact for conveyancing in Luton 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 creation of new rentcharges from 1977 onwards.
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.
We're in Luton, FTBs buying with a mortgage (lender is Yorkshire BS , and our lawyer is on the Yorkshire BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Yorkshire BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
What will a local search reveal about the house we're buying in Luton?
Luton conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations such as Searches UK The local search is essential in every Luton conveyancing purchase; that is if you don’t want any nasty once you have moved into your property. The search should provide data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
How does conveyancing in Luton differ for newly converted properties?
Most buyers of new build or newly converted property in Luton contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is finished. This is because house builders in Luton usually acquire the site, 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 conveyancing solicitors 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 Luton or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Luton is the location of the property. Can you offer any advice?
Flying freeholds in Luton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Luton you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Luton may determine 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.
In what way can the Landlord & Tenant Act 1954 affect my commercial offices in Luton and how can you help?
The particular law that you refer to provides security of tenure to commercial lessees, granting the right to make a request to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Luton is one of our many areas of the UK in which our lawyers have offices