I am the registered owner of a freehold property in Northop but nevertheless charged rent, why is this and what is this?
It is rare for properties in Northop and has limited impact for conveyancing in Northop 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 fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
Are the BSA intent on creating a online directory to to identify solicitors on the Norwich and Peterborough Building Society conveyancing panel for instance in Northop?
We have not been informed any intention on the part of the BSA to promote such a register.
I have recentlydiscovered that Arc property Solicitors have closed. They carried out my conveyancing in Northop for a purchase of a freehold house 10 months ago. How can I establish that my home is in my name in the name of the previous owner?
The quickest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Northop conveyancing specialists.
The estate agent has sent us the confirmation of our purchase of a new build flat in Northop. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Northop
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are architect prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Northop is the location of the property. Can you shed any light on this issue?
Flying freeholds in Northop are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Northop you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Northop may decide 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 residence.
My wife and I purchased a leasehold house in Northop. Conveyancing and Barclays mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Northop who acted for me is not around. Do I pay?
The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Northop conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a ground floor flat in Northop, conveyancing was carried out 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Northop with an extended lease are worth £206,000. The ground rent is £45 yearly. The lease finishes on 21st October 2091
You have 66 years unexpired the likely cost is going to span between £12,400 and £14,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.