I purchased a freehold house in Notting Hill yet pay rent, why is this and what is this?
It’s unusual for properties in Notting Hill and has limited impact for conveyancing in Notting Hill 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 redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
I can see plenty of information on this site concerning conveyancing in Notting Hill but what is your top tip for finding the right conveyancer in Notting Hill
It would be unwise to be swayed by the cheapest Notting Hill conveyancing quote. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
This question may be naive but I am wet behind the ears as FTB of a two bedroom flat in Notting Hill. Do I collect the keys to the house on the completion date from my solicitor? If so, I will use a local conveyancing solicitor in Notting Hill?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you will be invited to pick up the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Notting Hill solicitor - who is on the Santander conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander 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 Notting Hill 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.
I'm buying a new build house in Notting Hill with the aid of help to buy. The builders refused to move on the amount so I negotiated 6k of additionals instead. The estate agent suggested that I not to tell my conveyancer about the side-deal as it would impact my loan with Bank of Scotland. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the guidance of my in-laws I had a survey completed on a property in Notting Hill in advance of retaining solicitors. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some lenders will not give a loan on such a home.
It varies from the lender to lender. Lloyds has different instructions from Halifax. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Notting Hill. Conveyancing will be smoother if you use a solicitor in Notting Hill especially if they are acquainted with such properties in Notting Hill.
I have been pointed in your direction by a few estate agents in Notting Hill to select a solicitor using your seach tool. Is there a financial upside for Estate Agents to market your lawyers over and above alternative conveyancing organisations?
We don’t offer any financial incentive for sending work to this site. We thought it would be too underhand to pay a commission because home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
What are the differing property related services that Notting Hill conveyancing practices typically advise on?
By and large Notting Hill conveyancing companies manage to carry out a wide sphere of assistance to home and land proprietors, sellers, purchasers, freeholders and leaseholders including the following:
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Standard residential sale conveyancing in Notting Hill and elsewhere in the country
Domestic purchase conveyancing in Notting Hill and nationwide
Re-Mortgage Conveyancing Notting Hill conveyancing for repossessed property Resolving boundary disputes between neighbours Registering an unregistered property