I am the registered owner of a freehold residence in Lytchett Matravers but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Lytchett Matravers and has limited impact for conveyancing in Lytchett Matravers 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 establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
The Lytchett Matravers conveyancing solicitors that I appointed last week on my house acquisition in Lytchett Matravers have suddenly shut down. I only went with them because I had to have a lawyer on the Santander conveyancing panel and my previous Lytchett Matravers lawyer was not. I paid them money in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Santander conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
I got the keys to my flat on 9 April and my personal details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Lytchett Matravers expressed confidence that it would be dealt with in less than a month. Are transfers in Lytchett Matravers uniquely lengthy to register?
As far as conveyancing in Lytchett Matravers registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timeframes can adjust subject to who lodges the application, whether there are errors and whether the Land registry must send notices to any third parties. At present in the region of three quarters of such applications are completed in less than three weeks but some can be subject to protracted delays. Registration occurs after the buyer is living at the premises therefore registration formalities is not typically top priority yet where there is a degree of urgency associated with the registration then you or your conveyancer could contact the land registry and explain the circumstances.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a quick, chain free conveyancing. Lytchett Matravers is the location of the property. Can you shed any light on this issue?
Flying freeholds in Lytchett Matravers are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lytchett Matravers you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lytchett Matravers 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 property.
Am I better off to instruct a Lytchett Matravers conveyancing lawyer in close proximity to the house I am purchasing? I have an old university friend who can handle the conveyancing but his firm is located 300kilometers drive away.
The benefit of a local Lytchett Matravers conveyancing practice is that you can visit the firm to sign paperwork, deliver your ID and apply pressure on them if necessary. They will also have local knowledge which is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and they were impressed that should surpass using an unfamiliar Lytchett Matravers conveyancing lawyer just because they are round the corner.
Last February I purchased a leasehold flat in Lytchett Matravers. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Lytchett Matravers Conveyancing for Leasehold Flats - Examples of Queries before buying
-
How many of the leaseholders are in arrears for their maintenance charge payments? You should be aware if it is fewer than eighty years it will impact the marketability of the flat. Check with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably need a lease extension at some point and it is worth discovering what this would cost. For most Lytchett Matraverslease extensions you would need to own the property for 24 months before you are entitled to extend the lease. What is the yearly maintenance fee and ground rent?