I purchased a freehold residence in Ruxley yet charged rent, why is this and what is this?
It’s unusual for properties in Ruxley and has limited impact for conveyancing in Ruxley 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 lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
We previously instructed conveyancing lawyers with offices in Ruxley on the Principality solicitor approved list. They are now charging me a further fee for handling the Principality mortgage. Is this a supplemental conveyancing fee set by Principality?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your lawyer is entitled to levy a fee for this. This fee is not set by Principality but by your Ruxley lawyer. Some firms on the Principality panel will quote ’dealing with mortgage’ fee but many practices incorporate it on their overall fee.
I am currently in the process of buying my council flat in Ruxley. I have a mortgage agreed with Virgin Money. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
I was told two weeks ago that my mortgage has been agreed to by Coventry BS. Is it usual for Coventry BS to only issue the offer once my solicitor in Ruxley is approved on their conveyancing panel? Coventry BS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Various online forums that I have visited warn that are a common cause of stalling in Ruxley house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Ruxley.
Are there restrictive covenants that are commonly picked up during conveyancing in Ruxley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Ruxley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Just had an offer accepted on a new build flat in Ruxley. 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 legal work.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Ruxley
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I need to instruct a conveyancing solicitor for freehold conveyancing in Ruxley. I've chance upon a web site which seems to have the perfect answer If there is a chance to get all this stuff done via phone that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?