I own a freehold property in Navenby yet invoiced for rent, why is this and what is this?
It is rare for properties in Navenby and has limited impact for conveyancing in Navenby 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 creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I had intended to instruct a property lawyer in Navenby for our house move. Our financial adviser informed us that our mortgage company Clydesdale won't deal with them. Why is this not regarded as unfair competition?
Before the recession most lenders had a different appetite for risk. Almost all Navenby conveyancing firms would have been on many mortgage company panels. The FSA in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more data from law firms regarding their operations and their employees and establishing certain criteria such a completing on a minimum volume of conveyancing. Many Navenby conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Navenby is one of the hundreds of locations where the solicitors we list are on the panel for Clydesdale.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one close by in Navenby I like with open areas and station in the vicinity, however it's only got 51 remaining years left on the lease. There is not much else in Navenby suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan the shortness of the lease will likely be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
Am I best advised to choose a Navenby conveyancing practitioner based in the vicinity that I am buying? An old friend can handle the conveyancing but her office is a couple of hundredmiles drive away.
The primary upside of using a local Navenby conveyancing firm is that you can pop in to sign paperwork, hand in your identification documents and pester them where appropriate. Having local Navenby know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and in the main were impressed that should surpass using an unknown Navenby conveyancing lawyer solely due to them being round the corner.
I am in need of some leasehold conveyancing in Navenby. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
If the lease is registered - and most are in Navenby - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Navenby Leasehold Conveyancing - A selection of Queries Prior to buying
-
Are there any major works in the planning that could add a premium to the maintenance fees? The answer will be important as a) areas could cause problems in the block as the common areas may begin to deteriorate where maintenance are not paid for b) if the leaseholders have a dispute with the managing agents you will wish to have complete disclosure
If instructed can a conveyancer remove a person from the title of my home in Navenby ?
Removing or adding someone to the title of your house is relatively straightforward. You’ll need to appoint a lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a solicitor