I purchased a freehold premises in Tottenham Hale yet charged rent, why is this and what is this?
It is rare for properties in Tottenham Hale and has limited impact for conveyancing in Tottenham Hale 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 new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
My brother-in-law has suggested I instruct a conveyancing solicitor in Tottenham Hale. I need to find out whether they are accepted on the Nottingham Building Society approved list of lawyers. Could you help?
The first thing you should do is phone your lawyer and ask them whether they are on the lender panel. Alternatively please call Nottingham Building Society who may be able to help.
Given that I am about to spend hundreds of thousands of pounds on 3 bedroom house in Tottenham Hale I wish to talk to a solicitor concerning theconveyancing prior to appointing the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the lawyer who will be carrying out your conveyancing in Tottenham Hale.There is no ‘factory style conveyancing’ - each client is unique person, not a case number. The practices that we put you in touch with believe that the fees you are provided with for your conveyancing in Tottenham Hale should be the amount on the final invoice that you are charged.
My husband and I are new on the property ladder - agreed a price, but the estate agent has warned us that the vendor will only proceed if we instruct their preferred conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local conveyancer who is accustomed to conveyancing in Tottenham Hale
It is improbable the sellers are driving this. Should the vendor desire ‘a quick sale', taking such a hostile approach to a genuine buyer is likely to cause more damage than good. Bypass the agents and go straight to the sellers and make the point that (a)you are genuine buyers (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you will continue to instruct your preferred Tottenham Hale conveyancing solicitors - not the ones that will earn their estate agent a referral fee or achieve conveyancing thresholds pre-set by head office.
Do you have any top tips for leasehold conveyancing in Tottenham Hale with the aim of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Tottenham Hale can be bypassed if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information needed by the buyers’ representatives. If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share document. Organising a replacement share certificate is often a time consuming formality and delays many a Tottenham Hale home move. Where a reissued share certificate is needed, do contact the company officers or managing agents (where relevant) for this sooner rather than later. If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to ongoing. Many freeholders or managing agents in Tottenham Hale levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Tottenham Hale. Some Tottenham Hale leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Tottenham Hale conveyancing firm to help?
Most certainly. We can put you in touch with a Tottenham Hale conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Tottenham Hale flat is 22 Wakefield Road in January 2012. Following a vesting order Clerkenwell and Shoreditch County Court under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993 on 9th May 2011 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £17,400 This case affected 2 flats. The unexpired residue of the current lease was 74.13 years.
How does one remove a departed person's details from the title deeds for a property in Tottenham Hale?
Where a Tottenham Hale property is co-owned and one of the proprietors dies, their name will not immediately be removed from the title deeds. It is not necessary to amend the title as in the event of a sale you would just be asked to evidence why the joint proprietor is missing from the conveyance, such as a grant of probate.
With a view to making things smoother in the future you can arrange to have the deceased party erased from the title register by applying to HM Land Registry with evidence of the death. There is no land registry fee payable.