I am the registered owner of a freehold house in Castelnau but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Castelnau and has limited impact for conveyancing in Castelnau 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 establishment of fresh 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.
Various web forums that I have frequented warn that are the main reason for stalling in Castelnau conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any delay in conveyancing in Castelnau.
Due to the advice of my in-laws I had a survey completed on a property in Castelnau prior to retaining conveyancers. I have been advised that there is a flying freehold element to the property. The surveyor has said that some mortgage companies will not grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. If you e-mail us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Castelnau. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Castelnau to see if the conveyancing will be more expensive.
I have recently realised that I have 68 years remaining on my lease in Castelnau. I need to extend my lease but my landlord is missing. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to find the freeholder. For most situations an enquiry agent should be useful to carry out a search and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Castelnau.
Having spent months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Castelnau. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the price payable.
An example of a Freehold Enfranchisement case for a Castelnau flat is 19 Crisp Road in June 2009. Following a vesting order (Under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993) The tribunal determined that the premium payable for the acquisition of the freehold was £33,756,apportioned as to£12,285 for the lower at and £21,471for the upper fat. This case affected 2 flats. The remaining number of years on the lease was 68.32 years.
When it comes to my conveyancing in Castelnau should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Castelnau conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancer's time in submitting the funds this way.