I own a freehold premises in Wembley Park but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Wembley Park and has limited impact for conveyancing in Wembley 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 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 lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I have paid off my mortgage with Barclays. I assume I don't need a Wembley Park property lawyer on the Barclays panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Barclays 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 Barclays mortgage from the register. Barclays, 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 Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Wembley Park off the council. I have a mortgage offer with Skipton. 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 Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
I can not fathom if my lender requires a lease extension. I have called my Wembley Park bank branch on a couple of occasions and was reassured it wasn't an issue and they will lend. My Wembley Park conveyancing solicitor - who is on the lender conveyancing panel- called to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the property lawyer is on the lender panel, she or he must adhere to the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
We are selling our home in Wembley Park and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A local conveyancer would know that there is no such problem. It does beg the question why the purchasers used an internet conveyancing practice as opposed to a conveyancing solicitor in Wembley Park. Having lived in Wembley Park for 4 years we know of no issue. Do we contact our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? 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)
Is there anything unique about your site and other online quote calculators when it comes to conveyancing in Wembley Park?
At this site secure an accurate costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the nuances of your conveyancing in Wembley Park. As opposed to estate agents and brokerage sites we do not have kick-back arrangements with solicitors. Many agents and online brokers 'recommend' the firm who pay the most kickback, as opposed to the best value conveyancing in Wembley Park
I've recently bought a leasehold flat in Wembley Park. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a a ground floor purpose built flat in Wembley Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Wembley Park premises is Ground Floor Flat 69 Clifton Avenue in March 2012. the Tribunal determined that the premium payable for the new lease was £5,932 This case affected 1 flat. The number of years remaining on the existing lease(s) was 76.06 years.
Two months into buying a residence in Wembley Park. Conveyancing solicitor has phoned to say the property is "Leasehold". Does this make a difference on our mortgage valuation?
Wembley Park conveyancing does not in most situations involve leasehold houses. The crucial factor here is the length of lease and the ground rent. If there are over a hundred years remaining with a nominal rent, it's almost the same as freehold, so it shouldn't impact the marketability too much.
At the other extreme, if it's, say, fifty five years it is bound to have a material impact on the value, and probably wouldn't be acceptable to the lender. The remaining lease term and ground rent will be set out in the lease provided to your lawyer.