I purchased a freehold residence in Allestree yet charged rent, why is this and what is this?
It’s unusual for properties in Allestree and has limited impact for conveyancing in Allestree 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 generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Forgive me if this question is silly but I am wet behind the ears as a 1st time buyer of a ground floor flat in Allestree. Do I collect the keys to the premises on the completion date from my solicitor? If this is the case, I will find a local conveyancing solicitor in Allestree?
On the day of completion you will not be required to go to the conveyancers office in Allestree. Conveyancing lawyers for you will transfer the completion advance to the seller's solicitors, and once they have received this, you should be called to collect the keys from the selling Agents and start moving into the property. Usually this happens early afternoon.
Is it the case that all Allestree solicitor firms on the Bank of Ireland conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Bank of Ireland approved list of solicitors they would need to be governed by the SRA. Many lenders do allow licenced conveyancers on their panel and in such a situation the practice would be governed by the Council of Licensed Conveyancers.
I have paid off my mortgage with Coventry BS. I assume I don't need a Allestree conveyancer on the Coventry BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
It has been 3 months following my purchase conveyancing in Allestree took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. 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.
Due to the encouragement of my in-laws I had a survey completed on a house in Allestree prior to appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks tend not grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different instructions from Halifax. Should you wish to telephone us we can look into this further 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 Allestree. Conveyancing will be smoother if you use a solicitor in Allestree especially if they regularly deal with such properties in Allestree.
I need to appoint a conveyancing solicitor for sale conveyancing in Allestree. I've chance upon a site which looks to be the ideal solution If there is a chance to get all the legals done via phone that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?