I am the registered owner of a freehold premises in Sneinton but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Sneinton and has limited impact for conveyancing in Sneinton 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 many centuries, but the Rent Charge Act 1977 barred the generation 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 in 2037 will be dispensed with completely.
It has been three months following my purchase conveyancing in Sneinton concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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.
How does conveyancing in Sneinton differ for newly converted properties?
Most buyers of new build residence in Sneinton approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Sneinton usually buy the real estate, 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 property lawyers 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 Sneinton or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a quick, no chain conveyancing. Sneinton is where the house is located. Can you shed any light on this issue?
Flying freeholds in Sneinton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sneinton you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sneinton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
How easy is it to transfer to a new solicitor as I have to choose a firm on the Bank of Ireland conveyancing list. I hired a family conveyancing solicitor in Sneinton round the corner but she is not accepted by Bank of Ireland
It would be our pleasure to help you find a conveyancing solicitor in Sneinton on the Bank of Ireland panel. Please note that the property lawyers that we work with do not pay us commission if you instruct them and are under regulation of the Solicitors Regulation Authority who oversee all conveyancing solicitors in Sneinton. Using search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Sneinton.