I am the registered owner of a freehold premises in Whitton but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Whitton and has limited impact for conveyancing in Whitton 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 establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
What does a local search inform me about the property we're purchasing in Whitton?
Whitton conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations such as Xpress Legal The local search is essential in every Whitton conveyancing purchase; that is if you don’t want any nasty once you have moved into your property. The search will provide data on, amongst other things, details on planning applications relevant to the premises (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.
three months have gone by following my purchase conveyancing in Whitton took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. 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 buying a new build house in Whitton with a loan from Coventry Building Society. The sellers refused to reduce the price so I negotiated 6k of extras instead. The estate agent told me not inform my lawyer about this side-deal as it would impact my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Due to the advice of my in-laws I had a survey completed on a property in Whitton in advance of retaining conveyancers. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies may refuse to give a loan on this type of house.
It varies from the lender to lender. Santander has different instructions for example to Halifax. Should you wish to call us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Whitton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Whitton to see if the conveyancing will be more expensive.
What can I expect to pay for conveyancing in Whitton?
The amount you are charged for Whitton conveyancing charges may differ dramatically from solicitor to solicitor. This makes it especially critical for you to find this out when you first choose a solicitor. One should always seek two or more quotes.