I own a freehold premises in Penkridge but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Penkridge and has limited impact for conveyancing in Penkridge 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
I am purchasing a flat and require a conveyancing solicitor in Penkridge who is on the Leeds Building Society solicitor. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Leeds Building Society in certain locations such as Penkridge. We dont recommend any particular firm.
A friend advised me that in buying a property in Penkridge there may be a number of restrictions limiting what one can do in terms of external changes to the property. Is this right?
We are aware of a number of properties in Penkridge which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Penkridge should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My wife and I are spending time looking at houses in Penkridge and I am now considering a potential offer. Is it too early to have a solicitor in place? I am planning to take a home loan with TSB.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. As you are taking out a mortgage with TSB, make sure you remember to check that your lawyer is on the TSB conveyancing panel.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Penkridge lawyer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society 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 Leeds Building Society mortgage from the register. Leeds Building Society, 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 Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
I am buying a new build house in Penkridge with a mortgage from Skipton Building Society. The builders refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The property agent told me not disclose to my lawyer about this side-deal as it will adversely affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
How does the Landlord & Tenant Act 1954 affect my business premises in Penkridge and how can your lawyers assist?
The 1954 Act gives security of tenure to commercial lessees, giving them the right to make a request to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and assist with commercial conveyancing in Penkridge