I purchased a freehold house in Abbeymeads but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Abbeymeads and has limited impact for conveyancing in Abbeymeads 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
Should our conveyancer be asking questions regarding flooding as part of the conveyancing in Abbeymeads.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Abbeymeads. There are those who buy a property in Abbeymeads, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, but there are a numerous checks that may be carried out by the purchaser or on a buyer’s behalf which will figure out the risks in Abbeymeads. The standard information sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the seller to discover if the premises has historically flooded. In the event that flooding has previously occurred which is not disclosed by the vendor, then a purchaser may commence a legal claim for losses as a result of such an inaccurate response. A buyer’s lawyers should also order an enviro report. This should indicate if there is any known flood risk. If so, additional investigations will need to be initiated.
How does conveyancing in Abbeymeads differ for newly converted properties?
Most buyers of new build premises in Abbeymeads contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is completed. This is because house builders in Abbeymeads usually buy the site, 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 conveyancing solicitors 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 Abbeymeads or who has acted in the same development.
How do I identify a Abbeymeads law firm on the TSB conveyancing panel? I drive a motor bike and am willing to travel upto 25kilometers to meet the solicitor.
Feel free to make use of the tool on this page. Please pick a bank and your location and you will see a number of Abbeymeads conveyancing lawyers located nearest you. We have detailed some Abbeymeads conveyancing firms at the bottom of this page and you can call them to see whether they are on the TSB member panel
Back In 2001, I bought a leasehold flat in Abbeymeads. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Abbeymeads who acted for me is not around. Do I pay?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Abbeymeads conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a 1st floor flat in Abbeymeads, conveyancing formalities finalised 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Abbeymeads with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ends on 21st October 2077
With 52 years left to run the likely cost is going to be between £29,500 and £34,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
What is the difference between surveying and conveyancing in Abbeymeads?
Conveyancing - in Abbeymeads or anywhere in England and Wales - is the process of legally transferring legal title of property from one person to another. It involves the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re buying and will help you discover the condition of the building and, if there are problems, give you a powerful reason for negotiating the buying price down or asking the vendor to fix the defects before you complete your move.