I am the registered owner of a freehold residence in Waterloo but still pay rent, why is this and what is this?
It’s unusual for properties in Waterloo and has limited impact for conveyancing in Waterloo 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 new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I am in the process of remortgaging my apartment in Waterloo, does my lawyer have to be on the Nottingham Solicitor panel?
There is nothing to stop you using your solicitor, but Nottingham will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
What does a local search tell me concerning the property I am buying in Waterloo?
Waterloo conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for instance Searches UK The local search is essential in every Waterloo conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
I am buying a new build apartment in Waterloo. 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.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Waterloo
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There must be mutual enforceability of lessee’s covenants. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what should have been a quick, chain free conveyancing. Waterloo is the location of the property. Can you offer any guidance?
Flying freeholds in Waterloo are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Waterloo you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Waterloo 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 premises.
I'm remortgaging my current home to a BTL mortgage with Coventry Building Society and intend to use the remaining equity as a down payment on another property. The location we are talking about is Waterloo. Will your conveyancers be able to act for both sets of lenders and link together the two deals?
Do use our comparison tool on this page to ensure that the lawyers are on the appropriate lender panels. Having checked that they are the solicitor should be able to simultaneously deal with the two conveyancing matters but you should talk with you lawyer and make apparent your expectations and requirements.