I own a freehold property in Roundhay but still charged rent, why is this and what is this?
It’s unusual for properties in Roundhay and has limited impact for conveyancing in Roundhay 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 generation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Please help - my lawyer says that restrictive coveneant insurance is needed on my purchase. What is the level of cover for Roundhay conveyancing?
The appropriate level of restrictive coveneant indemnity insurance should be dictated by who who your lender is. It would differ for example between HSBC Bank and Barnsley Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
The formalities of my purchase has taken place for my property in Roundhay. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
RBS have agreed my mortgage in principle, my offer on a flat in Roundhay has been accepted, what are the next steps?
The estate agent will want to know who your solicitors are (make sure the conveyancing practitioners are on the lender’s panel). Call up RBS or your broker and complete any appropriate documentation. RBS will instruct a valuer who will get in touch with the selling agent or owners to book a time for the valuation to occur. Once carried out (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. RBS will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Roundhay.
I purchased a terraced Edwardian house in Roundhay. Conveyancing solicitor represented me and Santander. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You should 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Roundhay 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 mortgage companies. You can also check the position with the conveyancing solicitor who conducted the conveyancing.
I am looking for a ground for flat up to £235,500 and found one near me in Roundhay I like with amenity areas and transport links in the vicinity, however it's only got 51 years on the lease. I can't really find anything else in Roundhay suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan that many years may be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
As co-executor for the will of my aunt I am disposing of a property in Cardiff but live in Roundhay. My conveyancer (based 250 miles awayhas requested that I sign a statutory declaration ahead of completion. Can you recommend a conveyancing practitioner in Roundhay to witness this legal document for me?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will suffice regardless of whether they are Roundhay based
In relation to leasehold conveyancing in Roundhay what are the most common lease defects?
Leasehold conveyancing in Roundhay is not unique. All leases are individual and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
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A provision to repair to or maintain elements of the premises Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Norwich and Peterborough Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.
Leasehold Conveyancing in Roundhay - A selection of Questions you should consider Prior to buying
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The best form of lease structure is where the freehold interest is in the ownership of the leaseholders. In this scenario the leaseholders enjoy control and although a managing agent is usually retained where it is larger than a house conversion, the managing agent acts for the leaseholders themselves. Be sure to find out if there is anything that is prohibited in the lease. For example it is fairly common in Roundhay leases that pets are not permitted in certain buildings in Roundhay. If you like the flatin Roundhay but your cat is not allowed to make the move with you then you will be presented with a difficult determination. It would be sensible to find out as much as you can about the managing agents as they can either make life much easier or problematic. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to day to day issues like the upkeep of the communal areas. Ask prospective neighbours what they think of them. On a final note, investigate as to the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending that money.