I own a freehold house in Rainhill but nevertheless pay rent, why is this and what is this?
It is rare for properties in Rainhill and has limited impact for conveyancing in Rainhill 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 establishment of fresh rentcharges from 1977 onwards.
Old 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.
five months have elapsed since my purchase conveyancing in Rainhill took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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 residence 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.
I'm buying a new build house in Rainhill with a loan from Barnsley Building Society. The developers would not move on the amount so I negotiated 6k of additionals instead. The estate agent told me not disclose to my solicitor about this deal as it would adversely affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I am using a search engine for the words cheap conveyancing in Rainhill it shows results of numerous property lawyersin the area. How do I determine which is the right solicitor for me?
The ideal way of seeking the right conveyancer is via personal referral, so seek the guidance of colleagues and relatives who have acquired a property in Rainhill or the respected estate agent or financial adviser. Fees for conveyancing in Rainhill vary, so it's sensible to secure at least three fee calculations from varying types of conveyancers. Make sure that you clarify what costs in the quote includes.
Back In 2007, I bought a leasehold house in Rainhill. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. 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 1994. The conveyancing solicitor in Rainhill who previously acted has now retired. What should I do?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Rainhill conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a 1 bedroom flat in Rainhill, conveyancing having been completed in 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Rainhill with an extended lease are worth £190,000. The ground rent is £65 yearly. The lease finishes on 21st October 2087
With 61 years unexpired the likely cost is going to be between £19,000 and £22,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
Is planning permission needed to convert a single dwelling into multiple flats in Rainhill? This has been carried out to a house opposite to my home in Rainhill and was unaware of the conversion until the works were complete.
Planning permission is necessary for splitting a single dwelling in Rainhill into apartments but probably not for reverting once again to single dwelling-house so, in answer to your query, yes.