I am the registered owner of a freehold residence in St Margarets but nevertheless pay rent, why is this and what is this?
It is rare for properties in St Margarets and has limited impact for conveyancing in St Margarets 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 creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
My wife and I are at the point of looking at flats in St Margarets and I am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a home loan with Virgin Money.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. As you are seeking a mortgage with Virgin Money, ask your prospective lawyers if they are on the Virgin Money conveyancing panel otherwise they can't do the mortgage legal work.
I have today made my last payment due on my mortgage with Lloyds. I assume I don't need a St Margarets solicitor on the Lloyds panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
At last I have had an offer on a flat in St Margarets accepted, the owners do however have a connected purchase. The sellers have offered on a property, however it’s not yet agreed to, and are looking at other apartments booked. I have chosen a high street conveyancing solicitor in St Margarets. What do I do now? When do I get the mortgage application with RBS started?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then valuation, St Margarets conveyancing search fees, etc). First, you must check that your conveyancer is on the RBS approved list. As to the next steps this very much depends on the specifics of your case, attraction to this property and on the state of the market. In a rising market some purchasers will apply for the mortgage with RBS and arrange for the valuation and only if it comes back ok would they ask their property lawyer to move forward with the conveyancing in St Margarets.
It has been 4 months since my purchase conveyancing in St Margarets completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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 property 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 am a sole trader wishing to take an assignment of a lease of an office on a shopping parade. Can you recommend conveyancers offering no-move-no fees for non-domestic conveyancing in St Margarets for less than £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in St Margarets, including the sale and purchase of businesses as well as simply premises. If you are hoping to acquire or sell a shop, pub, restaurant, office, retail unit or a whole business we can find you the right firm. Regarding the charges this will depend on the structure and terms of the deal. Please provide us with your contact information or call so as to enable us to supply you with a detailed commercial conveyancing quote.
We're first time buyers - had an offer accepted, yet the property agent informed us that the vendor will only go ahead if we instruct the agent's preferred solicitors as they need a ‘quick sale’. We would rather use a family conveyancer with experience of conveyancing in St Margarets
It is unlikely the vendors are behind this. Should the seller want ‘a quick sale', taking such a hostile approach to a serious purchaser is not the way to achieve this. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you will continue to use your own,trusted St Margarets conveyancing lawyers - not the ones that will provide their negotiator at the agency a referral fee or achieve conveyancing targets demanded by head office.
There are only 62 years left on my lease in St Margarets. I am keen to get lease extension but my freeholder is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to locate the lessor. In some cases an enquiry agent should be helpful to carry out a search and prepare a report which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing St Margarets.
Following years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in St Margarets. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We can put you in touch with a St Margarets conveyancing firm who can help.
An example of a Lease Extension case for a St Margarets premises is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 60.45 years.