I own a freehold house in Melton Constable yet charged rent, why is this and what is this?
It’s unusual for properties in Melton Constable and has limited impact for conveyancing in Melton Constable 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
A friend pointed out to me me that in purchasing a property in Melton Constable there could be various restrictions as to what one can do in terms of external alterations to the property. Is this right?
There are a number of properties in Melton Constable which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Melton Constable should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We are due to move home in March. Should my conveyancing solicitor call the removal company on the day of completion. On a separate note, can you put forward a removal company in Melton Constable. Conveyancing solicitor was found before I stumbled across this website.
On the afternoon of completion you will need to collect the keys from your selling agent but this should only be done when the sellers lawyers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be passed over. You should tell the removal company that they can start moving you in. We do not recommend a specific removal company but can assist you in finding a residential property solicitor in Melton Constable or a lawyer with expertise in conveyancing in Melton Constable.
I have paid off my mortgage with HSBC. I assume I don't need a Melton Constable solicitor on the HSBC panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
I need some expedited conveyancing in Melton Constable as I am faced with a deadline to complete inside one month. Fortunately I do not need a mortgage. Can I escape the need for conveyancing searches to save money and time?
As you are not taking a mortgage you have the choice not to have searches carried out although no law firm would suggest that you don't. With lots of history conveyancing in Melton Constable the following are examples of issues that can be revealed and adversely impact future saleability: Refused Planning Applications, Outstanding Fees, Overdue Grants, Unadopted Roads,...
I am looking for a flat up to £235,500 and identified one round the corner in Melton Constable I like with a park and railway links nearby, however it only has 49 years on the lease. I can't really find anything else in Melton Constable for this price, so just wondered if I would be making a grave error buying a short lease?
If you need a home loan the shortness of the lease will be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
Do I need to be concerned about estate agents that I am dealing with are suggesting a web based conveyancing firm rather than a local Melton Constable conveyancing firm?
As is the case with lots of service providers, often input from relatives can be very helpful. Nevertheless there are lots of people with a keen interest in a conveyancing transaction; estate agents, financial adviser and lenders may put forward lawyers to instruct. On occasion the lawyers might be known to one of the organisations as being good in their field, but sometimes there is an underlying commercial relationship behind the recommendation. You are at liberty to select your preferred conveyancer. Don't forget that some mortgage providers have an approved list of conveyancers you have to use for the mortgage related work in your house move.
I am a negotiator for a reputable estate agent office in Melton Constable where we have witnessed a number of leasehold sales jeopardised due to short leases. I have received conflicting advice from local Melton Constable conveyancing solicitors. Could you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Melton Constable Leasehold Conveyancing - Sample of Questions you should consider before buying
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Are any of leasehold owners in dispute over their service charge liability? On the whole the outlay for major works are not incorporated into the maintenance charges, although there some managing agents in Melton Constable ask leasehold owners to contribute towards a sinking fund created for the specific intention of building a fund for major works. The best form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this situation the tenants benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently retained where it is larger than a house conversion, the managing agent acts for the leaseholders themselves.