I own a freehold house in Enfield Highway but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Enfield Highway and has limited impact for conveyancing in Enfield Highway 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 establishment of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
When it comes to lenders such as RBS, do Enfield Highway solicitors have to pay a fee to be on the conveyancing panel?
We are unaware of any bank fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
Is it the case that all Enfield Highway solicitor firms on the UBS conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the UBS approved list of solicitors they would need to be overseen by the SRA. The majority of lenders do allow licenced conveyancers on their panel and in such a situation the practice would be regulated by the Council of Licensed Conveyancers.
After what seems like an age I have had an offer on a maisonette in Enfield Highway agreed to, the sellers do nevertheless have a tied purchase. The vendors have offered on on an apartment, however it’s not yet tied up, and are looking at other flats booked. I have selected a high street conveyancing solicitor in Enfield Highway. What should be my next step? When should I get the mortgage application with Lloyds started?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of £1k, then survey, Enfield Highway conveyancing search costs, etc). First, you should ensure that your lawyer is on the Lloyds conveyancing panel. Regarding the subsequent steps this very much depends on the uniqueness of your case, attraction to the property and on the state of the market. In a rising market the majority of home buyers would apply for the mortgage with Lloyds and arrange for the valuation and only if it was satisfactory would they pay their property lawyer to press on with the conveyancing in Enfield Highway.
The deeds to my home are lost. The solicitors who handled the conveyancing in Enfield Highway 5 years ago no longer exist. Will I be able to sell the house?
In today’s world there are duplicates made of almost everything, and your lawyer will be aware precisely where to locate all the appropriate documentation so you may buy or dispose of your property without a hitch. Where copies are not available, your solicitor can arrange cover in the form of insurance or indemnities against future claims on your premises.
How does conveyancing in Enfield Highway differ for new build properties?
Most buyers of new build or newly converted property in Enfield Highway approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is built. This is because builders in Enfield Highway tend to acquire 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 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 Enfield Highway or who has acted in the same development.
I decided to have a survey completed on a house in Enfield Highway in advance of retaining lawyers. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some lenders tend not issue a loan on this type of premises.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you e-mail us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Enfield Highway. Conveyancing will be smoother if you use a solicitor in Enfield Highway especially if they are familiar with such properties in Enfield Highway.