I own a freehold house in Stanmore but nevertheless charged rent, why is this and what is this?
It is rare for properties in Stanmore and has limited impact for conveyancing in Stanmore 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 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 in 2037 will be extinguished.
The Stanmore conveyancing lawyers that I recently instructed on my purchase in Stanmore have suddenly closed. They were on acting for me because I needed a lawyer on the Santander conveyancing panel and my preferred Stanmore lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Santander conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
three months have gone by since my purchase conveyancing in Stanmore concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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.
How do I use the search tool to select a conveyancing lawyer in Stanmore on the approved list for my bank?
First choose a bank such as Birmingham Midshires, Barnsley Building Society or Nottingham Building Society then type in your preferred area for instance Stanmore. Conveyancing organisations in Stanmore and further afield should be listed.
Do you have any top tips for leasehold conveyancing in Stanmore from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Stanmore can be reduced if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information needed by the purchasers’ lawyers. You believe that you know the number of years left on your lease but you should verify this by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example installed wooden flooring? Stanmore leases often stipulate that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord approving such changes. Where you fail to have the consents to hand do not communicate with the landlord without contacting your conveyancer first. If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Organising a re-issued share certificate can be a lengthy formality and frustrates many a Stanmore conveyancing transaction. If a duplicate share certificate is required, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
I inherited a basement flat in Stanmore. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the price.
An example of a Lease Extension decision for a Stanmore residence is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case was in relation to 1 flat. The unexpired lease term was 70.25 years.