I am the registered owner of a freehold property in Woodside Park but nevertheless 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I am considering applying for a Virgin Money mortgage for purchase of a new build (under development) in Woodside Park with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?
There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
We previously chose solicitors based in Woodside Park on the Santander solicitor approved list. They have just billed me an additional sum for dealing with the Santander mortgage. Is this an additional conveyancing fee specified by Santander?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer can charge a fee for this. This charge is not dictated by Santander but by your Woodside Park conveyancing practitioner. Some firms on the Santander panel will charge an ‘acting for lender’ fee but many practices include it on their overall fee.
The formalities of my purchase has taken place for my property in Woodside Park. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team 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 instructed a Woodside Park conveyancer having made sure that they are on the Barclays conveyancing panel. Does my lawyer arrange the survey of the property?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Woodside Park postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in Woodside Park.
I am buying a house and the solicitor has identified Chancel Repair to which the property could be obligated to pay given it’s proximity to the area of such a church. He has recommended insurance. Is this strictly required for conveyancing in Woodside Park
Unless a prior acquisition of the premises took place after 12 October 2013 you can expect conveyancing practitioners conducting conveyancing in Woodside Park to remain recommending a chancel search and or insurance against a claim.
I have been on the look out for a leasehold apartment up to £235,500 and found one round the corner in Woodside Park I like with amenity areas and transport links in the vicinity, however it only has 51 years on the lease. I can't really find anything else in Woodside Park suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease will likely be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
Having had my offer accepted I require leasehold conveyancing in Woodside Park. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Woodside Park - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a first flat in Woodside Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?
if there is a missing 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 calculate the sum to be paid.
An example of a Lease Extension decision for a Woodside Park flat 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 was in relation to 1 flat. The unexpired term as at the valuation date was 76 years.