I am the registered owner of a freehold house in Newent yet invoiced for rent, why is this and what is this?
It is rare for properties in Newent and has limited impact for conveyancing in Newent 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 generation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
We wanted to use a property lawyer in Newent for our house move. Our broker has since notified us that our mortgage company Santander won't deal with them. Surely this is unfair competition?
Before the recession most banks had an appetite for risk which was higher than today. Almost all Newent conveyancing firms would have been on many bank panels. The financial services regulator in 2010 completed a thematic review into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more information from law firms concerning their operations and their employees as well as establishing certain criteria such a completing on a minimum volume of transactions. Many Newent conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Newent is amongst the hundreds of areas where the conveyancers we list are members of the panel for Santander.
We are planning to move home in January. Should my conveyancing solicitor call the removal company on the day of completion. On a separate note, can you recommend a removal company in Newent. Conveyancing firm was chosen prior to coming across your website.
On the day of completion you can collect the keys from the property agent but this can only take place after the vendors conveyancers inform the agent that they have the completion monies and the keys can be passed over. Subsequently you should advise the removal company that you are ready to move in. We are not in a position to recommend a specific removal company but can help you choose a residential property solicitor in Newent or a lawyer that specialises in conveyancing in Newent.
Please help - my lawyer advises that defective lease insurance is necessary on my purchase. What is the level of cover for Newent conveyancing?
The right level of defective lease indemnity insurance depends on who your lender is. It would differ for example between Lloyds TSB Bank and The Royal Bank of Scotland. Conveyancing lawyers as opposed to borrowers take out such policies.
Is it the case that all Newent solicitor practices on the HSBC conveyancing panel are governed by the SRA?
As solicitors, in order to be on the HSBC conveyancing panel they would need to be governed by the SRA. Many banks do list licenced conveyancers on their panel and in such a situation the organisation would be regulated by the CLC.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Newent. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Newent
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Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Newent is where the house is located. Can you shed any light on this issue?
Flying freeholds in Newent are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Newent you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Newent 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 property.
We are soon to purchasing a house in Newent. Conveyancing is not yet done but we would like keep the amount we are are purchasing for a secret from sites such as Nestoria. How could this be done?
HMLR are legally required to reveal price sold information on the official title for domestic properties countrywide which includes homes in Newent. The register of title is a public document, so the Land Registry would be breaching their statutory obligations if they did not permit access to the register.
You can ask the Land Registry to hide the amount paid data however the response will be in the negative.