I am the registered owner of a freehold premises in Bakewell but still charged rent, why is this and what is this?
It is rare for properties in Bakewell and has limited impact for conveyancing in Bakewell 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.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
My aunt passed away six months ago and as sole heir and executor I was left the property in Bakewell. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this allowed?
Where you intend to refinance then Lloyds will insist on your using a conveyancer on the Lloyds 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 Lloyds 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 Lloyds mortgage is registered as a charge at the Land Registry.
We previously instructed conveyancing lawyers based in Bakewell on the Barclays solicitor panel. They have just billed me an additional fee for the legal aspects of the Barclays mortgage. Is this a supplemental conveyancing fee set by Barclays?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your solicitor may charge a fee for this. This charge is not set by Barclays but by your Bakewell solicitor. Some firms on the Barclays panel will charge ’dealing with mortgage’ fee and others do not.
The mortgage over my property is with Coventry BS for my property in Bakewell. Conveyancing has been completed months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Coventry BS?
You must advise Coventry BS before renting your property as this is likely to be a breach of Coventry BS’s mortgage conditions. It may be that Coventry BS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. It should not be necessary to do this via a Coventry BS conveyancing panel solicitor.
After shopping around on the internet I have found a Bakewell lawyer having checked that they are on the Kent Reliance conveyancing panel. Does my lawyer arrange the survey of the property?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Bakewell surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My partner and I are intent on selling our home in Bakewell and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A high street Bakewell conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed an online conveyancing outfit rather than a conveyancing solicitor in Bakewell. We have lived in Bakewell for 4 years we know of no issue. Should we get in touch with our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing lawyer already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I have been on the look out for a leasehold apartment up to £195,000 and found one round the corner in Bakewell I like with amenity areas and railway links nearby, however it's only got 51 years on the lease. There is not much else in Bakewell suitable, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.