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Recently asked questions about conveyancing in Stechford

I am the registered owner of a freehold house in Stechford but nevertheless charged rent, why is this and what is this?

It’s unusual for properties in Stechford and has limited impact for conveyancing in Stechford 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 generation of fresh rentcharges post 1977.

Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.

It has been five months following my purchase conveyancing in Stechford took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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.

I need to retain a conveyancing solicitor for remortgage conveyancing in Stechford. I've land on a site which looks to be the perfect offering If it is possible to get all formalities completed via phone that would be ideal. Do I need to be concerned? What should out be looking out for?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I've recently bought a leasehold property in Stechford. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Stechford Leasehold Conveyancing - A selection of Questions you should consider before Purchasing

    What is the name of the managing agents? For many Stechford leaseholds the outlay for major works are not included within maintenance charges, although a few managing agents in Stechford require leaseholders to pay into a sinking fund and this is used to offset against larger works. How many of the leaseholders are in arrears for their service charge payments?

How and when do I cover the costs of stamp duty payable for my purchase in Stechford?

The majority of conveyancers tend to fill out a stamp duty return on your behalf during your Stechford purchase transaction for you to sign. On completion your property lawyer will submit the Land Transaction application to the Tax Authorities and - assuming they have the money - discharge any tax bill payable on your behalf.

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