I own a freehold residence in Twickenham Park yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Twickenham Park and has limited impact for conveyancing in Twickenham Park 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.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
Is there a search tool that I can utilise to find out if the solicitor carrying out my conveyancing in Twickenham Park is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Aldermore thus paying £187.00 plus VAT in supplemental legal invoice.
You should take advantage of the search tool on this web page. Please choose the mortgage company and type ‘Twickenham Park’ or your location and you will discover numerous conveyancers based in Twickenham Park or nearest you.
It has been 2 months since my purchase conveyancing in Twickenham Park completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. 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 purchasing a new build house in Twickenham Park with a mortgage from TSB. The sellers refused to budge the price so I negotiated 6k of additionals instead. The estate agent suggested that I not disclose to my solicitor about the deal as it could impact my loan with the bank. 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.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Twickenham Park is the location of the property. Can you offer any opinion?
Flying freeholds in Twickenham Park are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Twickenham Park you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Twickenham Park may determine 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.
My husband and I are first time buyers - had an offer accepted, yet the property agent advised that the seller will only go ahead if we appoint their preferred conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a local conveyancer used to conveyancing in Twickenham Park
It is improbable the owners are driving this. If they want ‘a quick sale', alienating a motivated buyer is likely to cause more damage than good. Speak to the owners direct and make the point that (a)you are motivated purchasers (b)you are ready to go, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)however you will continue to appoint your own,trusted Twickenham Park conveyancing lawyers - rather thanthe ones that will provide their estate agent a introducer fee or hit his conveyancing targets set by senior management.