Our solicitor has uncovered a a legal deficiency with the lease for the property we are buying in Helsby. The seller’s lawyers have offered defective title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancer says that he must be satisfied that the lender is content with this solution. Are we the client or is the lender?
Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. These conveyancing instructions have to be complied with.
I purchased a freehold house in Helsby but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Helsby and has limited impact for conveyancing in Helsby 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 establishment of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
It has been four months since my purchase conveyancing in Helsby completed. I have checked the Land Registry site which shows that I paid £150,000 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 premises 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.
How easy is it to use the search tool to choose a conveyancing lawyer in Helsby on the panel for my lender?
Step one is to pick a bank such as National Westminster Bank, Coventry Building Society or Bank of Ireland then choose your preferred area for instance Helsby. Conveyancing organisations in Helsby and beyond should be shown.
Back In 2005, I bought a leasehold flat in Helsby. Conveyancing and Godiva Mortgages Ltd mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Helsby who acted for me is not around. Do I pay?
First make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Helsby conveyancing firm to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Helsby - Examples of Queries before Purchasing
Make sure you find out if the the lease includes any unreasonable restrictions in the lease. By way of example some leases prohibit pets being allowed in in a block in Helsby. If you love the apartmentin Helsby however your cat is not allowed to live with you then you have a very hard compromise. The best form of lease arrangement is a share of the freehold. In this scenario the leaseholders benefit from control and notwithstanding that a managing agent is frequently employed where it is larger than a house conversion, the managing agent acts for the leaseholders themselves. What prohibitions are there in the Helsby Lease?