I purchased a freehold property in Shinfield and Arborfield yet pay rent, why is this and what is this?
It’s unusual for properties in Shinfield and Arborfield and has limited impact for conveyancing in Shinfield and Arborfield 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 have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
This question may be naive but I am unseasoned as a 1st time purchaser of a garden flat in Shinfield and Arborfield. Do I collect the keys to the premises on the completion date from my lawyer? If so, I will use a High Street conveyancing solicitor in Shinfield and Arborfield?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the seller's solicitors, and once they have received this, you will be invited to receive the keys from the property Agents and start moving into the property. Usually this occurs early afternoon.
I am purchasing a property in Shinfield and Arborfield. An unusual aspect is that the roof has a solar panel. Co-operative have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Co-operative your lawyer must comply with the conveyancing requirements contained in Part two of UK Finance Lenders’ Handbook for Co-operative. The CML Handbook stipulates minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Co-operative where a lease fails to satisfy these specifications. The provisions relate to the installation of panels on properties nationwide and is not isolated to Shinfield and Arborfield.
I recently had an offer accepted on a house in Shinfield and Arborfield. My mortgage broker suggested a solicitor. I paid an on account payment of £225. A couple of days later, the solicitor called me to say that they were not on the Skipton conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Shinfield and Arborfield is where the house is located. What do you suggest?
Flying freeholds in Shinfield and Arborfield are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Shinfield and Arborfield you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shinfield and Arborfield may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I was recommended by a few property agents in Shinfield and Arborfield to choose a solicitor using your seach tool. Is there a financial upside for Estate Agents to offer your site rather than another?
We refuse to make any commission for directing people in our direction. We found it would be just too difficult to pay a commission as members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to instruct a conveyancing practitioner in Shinfield and Arborfield for my remortgage. Is there any facility to review a solicitor's record with the legal regulator?
One may read documented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Go to Check a solicitor's record. For information Pre 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The SRA could recorded telephone calls for training reasons.
Last June I purchased a leasehold flat in Shinfield and Arborfield. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a garden flat in Shinfield and Arborfield, conveyancing having been completed February 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Shinfield and Arborfield with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 yearly. The lease ends on 21st October 2086
You have 60 years remaining on your lease the likely cost is going to range between £20,000 and £23,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.