I purchased a freehold residence in Winchmore Hill but nevertheless charged rent, why is this and what is this?
It is rare for properties in Winchmore Hill and has limited impact for conveyancing in Winchmore Hill 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 establishment of fresh rentcharges post 1977.
Previous 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 extinguished.
Do I need to visit the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Winchmore Hill so that I can pop in to their offices if required.
Whereas this was necessary 15 years ago, most banks no longer need their conveyancing panel solicitor to witness the borrowers signature. It will still be necessary for you to hand over identification documents and there are still manifest advantages to choosing a local solicitor, in your case a conveyancing solicitor in Winchmore Hill.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Winchmore Hill?
There are many registered licenced Conveyancers in Winchmore Hill and Solicitor practices in Winchmore Hill who can help with your conveyancing We would stress that the two are regulated professionals specialising in the legal aspects of the home buying process. They may both also conduct associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Is it the case that all Winchmore Hill solicitor firms on the Kent Reliance conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Kent Reliance conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such organisation would be overseen by the CLC.
Completion of my purchase has taken place for my property in Winchmore Hill. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I have been on the look out for a flat up to £305k and found one near me in Winchmore Hill I like with a park and station in the vicinity, however it only has 52 years on the lease. There is not much else in Winchmore Hill suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage that many years will likely be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
Am I better off to go with a Winchmore Hill conveyancing practitioner in close proximity to the house I am purchasing? We have a good friend who can deal with the legal work however they are based 200kilometers drive away.
The primary upside of using a high street Winchmore Hill conveyancing practice is that you can drop in to execute documents, present your ID and apply pressure on them if necessary. They will also have local knowledge which is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and in the main were impressed that must surpass using an unknown Winchmore Hill conveyancing lawyer just because they are round the corner.
I own a leasehold flat in Winchmore Hill. Conveyancing and Yorkshire Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Winchmore Hill who previously acted has now retired. Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Winchmore Hill conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the leaseholder of a ground floor flat in Winchmore Hill. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
Most definitely. We are happy to put you in touch with a Winchmore Hill conveyancing firm who can help.
An example of a Lease Extension decision for a Winchmore Hill premises is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 81.79 years.