I purchased a freehold premises in Newall Green but still invoiced for rent, why is this and what is this?
It is rare for properties in Newall Green and has limited impact for conveyancing in Newall Green 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.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
When it comes to mortgage companies such as Principality, do Newall Green solicitors have to pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I have paid off my mortgage with Barclays. I assume I don't need a Newall Green solicitor on the Barclays panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Barclays 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 Barclays mortgage from the register. Barclays, 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 Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Newall Green off the council. I have a mortgage agreed with Yorkshire BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
It has been five months since my purchase conveyancing in Newall Green took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Newall Green is where the house is located. Is there any guidance you can give?
Flying freeholds in Newall Green are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Newall Green you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Newall Green 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.
I was advised by a couple of local selling agents in Newall Green to find a conveyancer on your site. Is there a financial advantage for Estate Agents to recommend your services over and above another?
We don’t give any commission for pointing buyers and sellers our way. We thought it would be too underhand to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I only have Sixty One years unexpired on my flat in Newall Green. I now wish to get lease extension but my freeholder is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to find the freeholder. For most situations an enquiry agent should be useful to conduct investigations and prepare an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court overseeing Newall Green.
Leasehold Conveyancing in Newall Green - Sample of Queries before Purchasing
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You should be aware that where the lease has fewer than eighty years it will have adverse implications on the value of the apartment. Check with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will almost definitely have to extend the lease at some point and you need to have some idea of what this would cost. For most Newall Greenlease extensions you will need to own the property for a couple of years in order to be entitled to extend the lease. In the main the outlay for major works tend not to be included within maintenance charges, albeit that some managing agents in Newall Green require tenants to contribute towards a reserve fund and this is used to offset against major works. Is anyone aware of any major works anticipated that could increase the maintenance charges?