We have reported on the Leasehold Reform (Ground Rent) Act 2022 in our April 2022 (p5) and May 2022 (p11) editions. A useful article summarises when the Act will apply and issues that conveyancers should be looking out for. This is an area fraught with risk and conveyancing firms should review their leasehold reports and …
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Where a landlord and leaseholder intend to enter into a regulated lease over the coming months (on or after 30 June 2022), they should ensure that the rent provisions in the lease are updated so that any ground rent demanded will be no more than one peppercorn per year. If a higher rent has been …
Continue reading “Ground rents – steps for Ls and Ts”
Conveyancers are reminded of the importance of the Official Search of the Index Map (SIM). HMLR keeps a computerised map based on the Ordnance Survey map. This computerised map provides an index of the land in every registered title and pending application for first registration. Any person may apply using form SIM for an official …
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HMLR is on a drive to decrease the number of requisitions raised in relation to registrations submitted by law firms. The digital application process is part of this drive, as is putting out much more practical information to assist firms. An unanswered requisition could lead to the cancellation of a registration application, so firms should …
Continue reading “HMLR – application types”
HMLR has made a seemingly small but significant change to the Portal. The ‘view my applications’ service was introduced in August 2020 which allows Portal users to manage all applications, correspondence, notices, requisitions and letters in one central place. However, a continuing risk for conveyancing firms is the fact that if the particular Portal user …
Continue reading “HMLR – view colleagues’ applications on the Portal”
Dealing with restrictions is the bane of many conveyancers’ lives, in particular management company restrictions on leasehold titles. Accordingly, the introduction by HMLR of form RXC is a welcome attempt to try to assist. We reported in our September 2021 (p9) and Dec/Jan 2022 (p6) editions on the introduction to the form and the changes …
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The volume of information and training content issued by HMLR is impressive. Many firms receive requisitions relating to matters which could delay completion of the registration or, worse, result in its cancellation. HMLR monitors the volume of requisitions generated by firms. All firms should offer training to their post-completion departments on the guidance issued for …
Continue reading “HMLR – variation in names”
It will probably be of little comfort to conveyancers faced with regular requests from lenders for updates as to the progress on registrations to report that at March 2022, HMLR states that it is completing over half of complex applications, such as first registrations, creating a new lease or transfers of part, in around eight …
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Conveyancers may be unaware of the potentially useful form II restriction which states as follows: Form II (Beneficial interest that is a right or claim in relation to a registered estate) No disposition of the registered estate, other than a disposition by the proprietor of any registered charge registered before the entry of this restriction, …
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Firms carrying out equity release work should note that an important requirement has been reinstated. In response to the pandemic, the Equity Release Council suspended the requirement that the homeowner had at least one face-to-face meeting with their independent legal adviser. However, it has been announced that this requirement will be reintroduced with immediate effect. …
Continue reading “Equity release – face to face”