I own a freehold residence in Fairfield yet pay rent, why is this and what is this?
It is rare for properties in Fairfield and has limited impact for conveyancing in Fairfield 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 fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
We're in Fairfield, FTBs purchasing with a mortgage (lender is Santander , and our lawyer is on the Santander conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Santander conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have paid off my mortgage with UBS. I assume I don't need a Fairfield property lawyer on the UBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I can not fathom if my bank requires a lease extension. I have called my Fairfield building society branch on a couple of occasions and was told it wasn't a problem and they would lend. My Fairfield conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. I simply don't know who is right.
Provided that the lawyer is on the lender approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After much negotiation I have agreed a price on an apartment in Fairfield. My mortgage broker pressured me to appoint their lawyer. I paid an on account payment of £200. A few days later, the property lawyer contacted me sheepishly admitting that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Fairfield is where the house is located. Can you shed any light on this issue?
Flying freeholds in Fairfield are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Fairfield you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fairfield 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.
The conveyancing solicitors handling our conveyancing in Fairfield has forwarded papers to review that reveal that the land is unregistered with epitome documents. Is it not the case that all properties in Fairfield are registered?
It is unusual for property in Fairfield not to be registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Many Fairfield conveyancing lawyers should be able to handle such matters but in the event that uncertainty exists the usual proposition nowadays is for the current owners to register the title first and then sell - this will predictably cause a significant delay.