I purchased a freehold premises in West Drayton but still pay rent, why is this and what is this?
It is rare for properties in West Drayton and has limited impact for conveyancing in West Drayton 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 creation of fresh 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.
Various online forums that I have visited warn that are the main cause of hinderance in West Drayton conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of holding up conveyancing in West Drayton.
I have todaybeen informed that Arc property Solicitors have been shut down. They carried out my conveyancing in West Drayton for a purchase of a leasehold flat 10 months ago. How can I be sure that my home is not still registered in the name of the former proprietor?
The easiest way to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of West Drayton conveyancing specialists.
How does conveyancing in West Drayton differ for new build properties?
Most buyers of new build or newly converted property in West Drayton come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is built. This is because new home sellers in West Drayton tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in West Drayton or who has acted in the same development.
I decided to have a survey carried out on a property in West Drayton ahead of retaining conveyancers. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some banks tend refuse to give a loan on a flying freehold home.
It depends who your proposed lender is. Santander has different instructions from Halifax. If you e-mail us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in West Drayton. Conveyancing may be slightly more expensive based on your lender's requirements.
We are soon to acquiring a house in West Drayton. Conveyancing is not complete but we would like have the amount we are are purchasing for a secret from the likes of Nestoria. what can I do to make sure this is not noted?
HMLR as a matter of law bound to note price sold information on the official title for domestic properties nationwide including properties in West Drayton. The register of ownership is an open document, so HM Land Registry would be breaching their statutory duty if they failed to allow access to the register.
In essence you can make a request of the Land Registry to withhold the price paid data but the response would be in the negative.