I am the registered owner of a freehold premises in Monken Hadley but nevertheless invoiced for rent, why is this and what is this?

It’s unusual for properties in Monken Hadley and has limited impact for conveyancing in Monken Hadley 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 new rentcharges from 1977 onwards.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.

My uncle passed away six months ago and as sole heir and executor I was left the property in Monken Hadley. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Barclays, pay off the mortgage. Is this allowed?

If you plan to re-mortgage then Barclays will require that you use a conveyancer on the Barclays conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Barclays conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Barclays mortgage is registered as a charge at the Land Registry.

Do I select a Licenced Conveyancer or Solicitor for conveyancing in Monken Hadley?

There are two types of lawyers who can do conveyancing in Monken Hadley namely licenced conveyancers or solicitors. Both professionals administer conveyancing services that required to complete the sale or purchase of property. Both are required to handle Monken Hadley conveyancing on similar standards and guidelines so you may be safe in the knowledge that your conveyancing will be properly carried out and that all requisite procedures will be accurately taken.

I have been told by my conveyancer that flying freehold insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Monken Hadley?

The appropriate level of flying freehold indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and The Mortgage Works. Conveyancing lawyers as opposed to members of the public take out such insurances.

We have agreed to purchase a house in Monken Hadley. One unusual aspect is that the roof has a solar panel. Bank of Ireland have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?

As you are obtaining a mortgage with Bank of Ireland your lawyer must follow the conveyancing instructions set out in Section 2 of UK Finance Lenders’ Handbook for Bank of Ireland. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Bank of Ireland where a lease does not satisfy these provisions. The conditions relate to the installation of panels on properties countrywide and is not isolated to Monken Hadley.

How does conveyancing in Monken Hadley differ for new build properties?

Most buyers of new build premises in Monken Hadley contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Monken Hadley usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Monken Hadley or who has acted in the same development.

After months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Monken Hadley. Can we issue an application to the Residential Property Tribunal Service?

in cases where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the premium.

An example of a Lease Extension decision for a Monken Hadley premises is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The unexpired term was 76 years.

What makes a Monken Hadley lease unacceptable for security purposes?

Leasehold conveyancing in Monken Hadley is not unique. Most leases are individual and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

Clauses dealing with recovering service charges for expenditure on the building or common parts. Insurance obligations

You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Leeds Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.