I purchased a freehold house in Southall but still pay rent, why is this and what is this?
It is rare for properties in Southall and has limited impact for conveyancing in Southall 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 generation of new rentcharges from 1977 onwards.
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'm buying my first flat in Southall with a loan from Godiva Mortgages Ltd. The builders refused to budge the price so I negotiated £7000 of extras instead. The property agent told me not to tell my solicitor about this deal as it may jeopardize my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I am using a search engine for the phrase on line conveyancing in Southall it shows results of numerous conveyancersin the vicinity. With so much choice what is the best way to find the suitable conveyancer for the sale of my house?
The preferential method of finding the right conveyancer is through a personal recommendation, so ask colleagues and relatives who have bought a property in Southall or a local estate agent or financial adviser. Fees for conveyancing in Southall differ, so it's advisable to secure a minimum of four quotes from varying types of solicitors. Be sure to seek confirmation that the fees are fixed.
Looking forward to complete next month on a ground floor flat in Southall. Conveyancing solicitors assured me that they are sending me a report tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Southall should include some of the following:
What you can do if another tenant in the building is in violation of a provision in their lease? The physical ownership of the premises. This will be the apartment itself but might include a loft or storage are if relevant. What remedies are open the freeholder should you are in breach of your lease terms? Who has the liability to repair and maintain the block. It is essential for you to know who is liable for the repair and maintenance of all parts of the block and estate How long the lease is. You should receive guidance as what happens when the lease expires, and informed of the importance of the 80 year mark
We have reached the end of our tether in trying to purchase the freehold in Southall. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a Southall conveyancing firm who can help.
An example of a Lease Extension decision for a Southall property is 33 Barbican Road in January 2013. The Tribunals calculation of the lease extension premium payable was £17,592. This case related to 1 flat. The remaining number of years on the lease was 55.12 years.
Me and mywife and I are in the market for a trustworthy conveyancing solicitor in Southall to assist me in selling my place. I I am concerned about by bill escalating out of control but with lots of Southall conveyancing firms out there...who do I opt for?
To fee estimates for your move via conveyancing firms that offers services in Southall please use our quote tool.