I am the registered owner of a freehold residence in Thame yet invoiced for rent, why is this and what is this?
It is rare for properties in Thame and has limited impact for conveyancing in Thame 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 fresh rentcharges from 1977 onwards.
Old 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 dispensed with completely.
I am purchasing a property and the solicitor has raised the issue of Chancel Repair for which the property could be obligated to pay as it falls into the area of such a church. She has recommended insurance. Is this really necessary for conveyancing in Thame
Unless a previous acquisition of the property took place after 12 October 2013 you may assume that solicitors handling conveyancing in Thame to continue to recommend a chancel search and or insurance against a claim.
I bought my home on 14 May and my personal details is not yet registered. Should I be concerned? My conveyancing solicitor in Thame expressed confidence that it should be registered in a couple of weeks. Are titles in Thame particularly slow to register?
As far as conveyancing in Thame registration is no faster or slower than anywhere else in the country. Rather than based on location, timescales can adjust according to who lodges the application, whether there are errors and whether the Land registry must send notices to any 3rd persons or bodies. Currently approximately three quarters of submission are fully addressed in less than three weeks but occasionally there can be extensive delays. Historically registration takes place once the new owner is living at the property therefore an expedited registration is not always primary concern yet where it is urgent that the the registration takes place urgently then you or your solicitor must communicate with the Registry to express the reasoning for an expedited registration.
I'm purchasing a new build house in Thame with the aid of help to buy. The builders refused to reduce the amount so I negotiated 6k of extras instead. The sale representative advised me not disclose to my lawyer about the extras as it would adversely affect my loan with Britannia. Do I keep my lawyer in the dark?.
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.
Over the last few months I have been searching for a flat up to £195,000 and found one close by in Thame I like with a park and railway links nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Thame for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I am an executor of my recently deceased mother’s Will, with a bungalow in Thame which is to be sold. The bungalow has never been registered at HMLR and I'm told that some estate agents will insist that it is done before they'll proceed. What's the mechanism for this?
In the circumstances that you have set out it seems prudent to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.