I purchased a freehold house in Pulborough yet charged rent, why is this and what is this?
It’s unusual for properties in Pulborough and has limited impact for conveyancing in Pulborough 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 establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
My aunt passed away 10 months ago and as sole heir and executor I was left the property in Pulborough. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to UBS, pay off the mortgage. Is this allowed?
Given you intend to re-mortgage then UBS will require that you use a conveyancer on the UBS 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 UBS 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 UBS mortgage is registered as a charge at the Land Registry.
I have been told that property searches are the primary cause of hinderance in Pulborough house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays in the conveyancing process. Local searches are unlikely to feature in any delay in conveyancing in Pulborough.
I have todayfound out that Arc property Solicitors have been shut down. They carried out my conveyancing in Pulborough for a purchase of a leasehold flat 12 months ago. How can I be sure that the property is in my name in the name of the former proprietor?
The easiest way to see 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 Pulborough conveyancing specialists.
I own a leasehold flat in Pulborough. Conveyancing and Platform Home Loans Ltd mortgage organised. 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 1995. The conveyancing solicitor in Pulborough who previously acted has now retired. What should I do?
First contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Pulborough conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Pulborough Leasehold Conveyancing - Sample of Questions you should consider before buying
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How much is the service charge and ground rent on the flat? Please note if it is fewer than eighty years it will have adverse implications on the value of the apartment. Check with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably need a lease extension sooner rather than later and you need to have some idea of how much this will be. For most Pulboroughlease extensions you would be required to have owned the residence for a couple of years before you are eligible to exercise a lease extension. Does this lease have more than 90 years unexpired?
I have chosen a Pulborough conveyancing solicitor for our home move (first time buyers) and have spotted in the engagement letter that they are not covered by the FCA. Am I right to be worried or is that standard with property lawyer?
We can't see why they should be. Most property lawyer don't lend money. You should check that they are regulated by the SRA, who have specific obligations in relation to amounts deposited in their bank.