Our lawyer has discovered a a legal deficiency with the lease for the flat we are purchasing in Battle. The other side have offered title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancing practitioner has advised that he must be satisfied that the mortgage company is willing to move forward with this solution. Are we the client or is the bank?
Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the bank are the client. These conveyancing instructions have to be complied with.
I am the registered owner of a freehold house in Battle but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Battle and has limited impact for conveyancing in Battle 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 redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Despite weeks of looking the Title Certificate and documents to our home can not be found. The lawyers who conducted the conveyancing in Battle 10 years ago have long since closed. What are my options?
As long as you have a registered title the details of your ownership will be held by HMLR under a Title Number. It is possible to execute a search at the Land Registry, identify your house and get current copies of the Registered Entries for less than a fiver. If the property is Leasehold then the Land Registry will usually hold a certified copy of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
Due to the encouragement of my in-laws I had a survey completed on a property in Battle in advance of retaining conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some banks will refuse to issue a loan on this type of premises.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. Should you wish to call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Battle. Conveyancing may be slightly more expensive based on your lender's requirements.
I own a leasehold flat in Battle. Conveyancing and Platform Home Loans Ltd mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Battle who acted for me is not around. What should I do?
The first thing you should do is make enquiries of HMLR to make 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 Battle conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, 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 registered owner of a ground floor flat in Battle, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Battle with a long lease are worth £186,000. The ground rent is £55 per annum. The lease finishes on 21st October 2073
With only 52 years remaining on your lease we estimate the premium for your lease extension to range between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.