I am the registered owner of a freehold property in Highgate but nevertheless charged rent, why is this and what is this?
It is rare for properties in Highgate and has limited impact for conveyancing in Highgate 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 creation of new rentcharges from 1977 onwards.
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 extinguished.
The Highgate conveyancing solicitors that I recently instructed on my house acquisition in Highgate have without warning closed. I chose them because I had to have a solicitor on the Skipton conveyancing panel and my family Highgate lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved 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. Most sellers would 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 Skipton 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 assist.
How does conveyancing in Highgate differ for newly converted properties?
Most buyers of new build or newly converted property in Highgate approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is finished. This is because builders in Highgate typically 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 accustomed to new build conveyancing in Highgate or who has acted in the same development.
Estate agents have just been given the go-ahead to market my 2 bed flat in Highgate. Conveyancing lawyers have not yet been instructed, but I have just had a yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as usual as all rents and service invoices will be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Highgate conveyancing firm to represent me?
Most certainly. We are happy to put you in touch with a Highgate conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Highgate premises is Flat 2A 19 Shepherds Hill in June 2014. The tribunal concluded in accordance with section 48 and schedule 13 of the Leasehold Reform,Housing and Urban Development Act (the 1993 Act) that the premium payable in respect of the grant of a new lease for the Flat be £24,303 (twenty four thousand three hundred and three pounds) This case affected 1 flat. The number of years remaining on the existing lease(s) was 67.85 years.
I am buying a house with all finances in place. My conveyancer has been given with two distinct evidence of photo ID, bank statement, endless utility bills. Now he wants a copy from a probate lawyer stating that the money is in place and that it has come from inheritance and not selling fake watches.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Highgate conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.