I am the registered owner of a freehold house in Woodside Park but still pay rent, why is this and what is this?
It’s unusual for properties in Woodside Park and has limited impact for conveyancing in Woodside 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 date back many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
I am considering applying for a Aldermore mortgage for purchase of a newly converted (under development) in Woodside Park with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Aldermore ?
There is nothing to stop you using your solicitor, but Aldermore will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I am due to move property in January. Should my conveyancing solicitor communicate with the removal company on the completion day. On a separate note, can you suggest a removal company in Woodside Park. Conveyancing firm was chosen before I stumbled across this site.
On the day of completion you will need to pick up the keys from your selling agent but this can only happen after the sellers lawyers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be passed over. Subsequently you will need to inform the removal men that they can start moving you in. We are not in a position to recommend a specific removal company but can assist you in locating a conveyancing in Woodside Park or a solicitor that specialises in conveyancing in Woodside Park.
I am purchasing a property in Woodside Park. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?
Given that you are obtaining a mortgage with Coventry BS your lawyer must comply with the formal requirements set out in Section 2 of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook stipulates minimum specifications for solar panel roof-space leases, and lawyers are required to report to Coventry BS where a lease fails to comply with these provisions. The provisions relate to the installation of panels on properties countrywide and is not isolated to Woodside Park.
I recently had an offer accepted on an apartment in Woodside Park. My financial adviser suggested a conveyancer. I paid an on account payment of £175. Shortly after, the solicitor contacted me embarrassingly acknowledging that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The conveyancers who conducted the conveyancing in Woodside Park 5 years ago have long since closed. Will I be able to sell the house?
Gone are the days when you need to have the physical original deeds to prove you are the owner of your registered land or property, given that the Land Registry have everything they need in a digital format.
Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Woodside Park I like with open areas and railway links in the vicinity, the downside is that it's only got 49 years on the lease. I can't really find anything else in Woodside Park in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term may be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I’m about to sell my ground floor flat in Woodside Park. Conveyancing solicitors are to be appointed soon, but I have recently received a half-yearly service charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is pay the maintenance contribution as normal given that all rents and service charges will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I have given up negotiating a lease extension in Woodside Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where 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 Leasehold Valuation Tribunal to arrive at the price.
An example of a Lease Extension matter before the tribunal for a Woodside Park premises is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The remaining number of years on the lease was 76 years.