I am the registered owner of a freehold property in Freshwater Bay but still pay rent, why is this and what is this?
It’s unusual for properties in Freshwater Bay and has limited impact for conveyancing in Freshwater Bay 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 redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
Various online forums that I have frequented warn that are the primary cause of stalling in Freshwater Bay house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays in the conveyancing process. Searches are not likely to be the root cause of holding up conveyancing in Freshwater Bay.
It has been 3 months since my purchase conveyancing in Freshwater Bay 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.
We are four weeks into a leasehold purchase having been recommend to conveyancers by the local agent to carry out the conveyancing in Freshwater Bay. I am am extremely dissatisfied with the level of service. Could you help me find new lawyers?
They would need to be really poor in order to consider replacing them. Has your mortgage offer been issued? In the event that it has you must inform them of the new contact details and ensure the loan are re-sent. Your solicitor ideally should be on the banks approved list to avoid added expenses and frustration. That should be your first question of the new solicitors. Our find a solicitor tool will help you find a bank approved conveyancer for your conveyancing in Freshwater Bay
Should I cancel the direct debit for my mortgage with once a completion date for my sale in Freshwater Bay has been agreed?
No, you must keep meeting any mortgage payments to until the mortgage is repaid out of the proceeds of sale as part of your Freshwater Bay conveyancing.