I own a freehold property in Tavistock yet invoiced for rent, why is this and what is this?
It is rare for properties in Tavistock and has limited impact for conveyancing in Tavistock 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 creation of fresh 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 dispensed with completely.
I own a terraced Edwardian property in Tavistock. Conveyancing lawyer acted for me and Halifax. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold with the exact same address. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tavistock and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing solicitor who carried out the work.
Due to the encouragement of my in-laws I had a survey completed on a property in Tavistock ahead of retaining lawyers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some lenders tend not issue a loan on such a home.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Tavistock. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tavistock to see if the conveyancing will be more expensive.
What are your top tips when it comes to finding a Tavistock conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Tavistock conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with several firms including non Tavistock conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be useful:
What are the costs for lease extension conveyancing? What volume of lease extensions has the firm carried out in Tavistock in the last twenty four months?
Tavistock Conveyancing for Leasehold Flats - Sample of Queries before buying
Are any of leasehold owners in dispute over their service charge payments? What is the length of the lease? It is important to be aware whether changing the roof or some other significant cost is pending to be shared between the tenants and will materially impact the level of the maintenance charges or necessitate a one time payment.
I'm selling a bungalow in Tavistock. I have found my conveyancer's company on the Law Society's list, but I can't see my conveyancer's name as listed on the regulator's website. Is this a big problem?
Not all staff in the practice must be listed by the regulator. Provided there is a manager qualified to 'oversee' the transaction, the actual day-to-day activity can be undertaken by unlicensed staff.