I purchased a freehold property in The Meadows but still pay rent, why is this and what is this?
It’s unusual for properties in The Meadows and has limited impact for conveyancing in The Meadows 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I can see plenty of information on this site concerning conveyancing in The Meadows but can you isolate your top tip for selecting the right conveyancer in The Meadows
It would be unwise to be tempted by the lowest The Meadows conveyancing costs illustration. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I have paid off my mortgage with Principality. I assume I don't need a The Meadows conveyancing practitioner on the Principality panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality 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 Principality mortgage from the register. Principality, 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 Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in The Meadows off the council. I have a mortgage offer with Bank of Ireland. 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 Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
I am planning on selling our house in The Meadows and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A local lawyer would know this is not the case. For the life of me I don't know why the buyers instructed an internet conveyancing firm rather than a conveyancing solicitor in The Meadows. We have lived in The Meadows for many years we know of no issue. Is it a good idea to contact our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Are there restrictive covenants that are commonly identified as part of conveyancing in The Meadows?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in The Meadows. 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…’
How does conveyancing in The Meadows differ for newly converted properties?
Most buyers of new build or newly converted property in The Meadows come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because builders in The Meadows usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in The Meadows or who has acted in the same development.
Can you provide any advice for leasehold conveyancing in The Meadows from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in The Meadows can be bypassed where you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the buyers’ solicitors. In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Most leases in The Meadows state that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. Where you fail to have the approvals to hand you should not contact the landlord without contacting your lawyer before hand. A minority of The Meadows leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. Many freeholders or Management Companies in The Meadows levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in The Meadows.
Leasehold Conveyancing in The Meadows - Examples of Questions you should consider before Purchasing
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Are any of leasehold owners in arrears of their service charge payments? How much is the ground rent and service charge?