I purchased a freehold house in Northwood but still charged rent, why is this and what is this?
It is rare for properties in Northwood and has limited impact for conveyancing in Northwood 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 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 is to be extinguished.
My aunt passed away 10 months ago and as sole heir and executor I was left the property in Northwood. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this allowed?
Given you plan to refinance then Bank of Ireland will insist on your using a conveyancer on the Bank of Ireland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Ireland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Ireland mortgage is registered as a charge at the Land Registry.
I need some quick conveyancing in Northwood as I have an ultimatum to complete within one month. Fortunately I do not need a mortgage. Can I avoid the conveyancing searches to save fees and time?
As you are not obtaining a home loan you are at free not to have searches conducted although no lawyer would advise that you don't. With lots of history conveyancing in Northwood the following are examples of issues that can appear and therefore affect future mortgageability: Refused Planning Applications, Outstanding Charges, Overdue Grants, Unadopted Roads,...
Me and my brother have a semi-detached Edwardian house in Northwood. Conveyancing solicitor acted for me and Aldermore. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Northwood and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing lawyer who conducted the conveyancing.
I'm purchasing my first flat in Northwood with a mortgage from Barnsley Building Society. The developers refused to budge the amount so I negotiated £7000 of additionals instead. The estate agent advised me not disclose to my lawyer about the deal as it may adversely affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Can you provide any advice for leasehold conveyancing in Northwood with the intention of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Northwood can be avoided where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the purchasers’ solicitors. You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is under 75 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. Many landlords or Management Companies in Northwood charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Northwood. If you hold a share in a the freehold, you should ensure that you are holding the original share document. Organising a duplicate share certificate can be a lengthy process and delays many a Northwood conveyancing transaction. If a new share certificate is required, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.
Having spent months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Northwood. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We are happy to put you in touch with a Northwood conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Northwood premises is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case was in relation to 3 flats. The remaining number of years on the lease was 71 years.