I am the registered owner of a freehold premises in Tyldesley yet pay rent, why is this and what is this?
It is rare for properties in Tyldesley and has limited impact for conveyancing in Tyldesley 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 date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Forgive me if this question is silly but I am wet behind the ears as a first time purchaser of a two bedroom flat in Tyldesley. Do I receive the keys to the house on the completion date from my solicitor? If so, I will appoint a local conveyancing solicitor in Tyldesley?
On the day of completion you do not need to go to the conveyancers office in Tyldesley. Your solicitors will electronically transfer the completion advance to the vendor’s solicitors, and once they have received this, you should be able to pick up the keys from the property Agents and move into your new home. Usually this occurs between 1 and 3pm.
Are all Tyldesley Conveyancing Quality Solicitors on the Skipton conveyancing panel?
A selection of banks and building societies now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Tyldesley building society branch on numerous occasions and was informed it wasn't an issue and they will lend. My Tyldesley conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the solicitor is on the mortgage company approved list, she or he must follow the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Tyldesley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Tyldesley. 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…’
The estate agent has sent us the confirmation of our purchase of a new build apartment in Tyldesley. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Tyldesley
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are surveyor prepared.
Over the last few months I have been searching for a ground for flat up to £305k and identified one close by in Tyldesley I like with open areas and railway links in the vicinity, however it's only got 61 remaining years left on the lease. I can't really find anything else in Tyldesley for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
Taking into account that I am about to part with over three hundred thousand on a terraced house in Tyldesley I wish to have a conversation with the lawyer regarding thetransaction ahead of appointing the firm. Is this something that you can arrange?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you first talking to the conveyancer who will be conducting your conveyancing in Tyldesley.There is no ‘factory style conveyancing’ - every client is unique individual, not a file reference. The solicitors that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Tyldesley should be the figure that you are charged.