I am the registered owner of a freehold house in Aberaeron yet charged rent, why is this and what is this?
It is rare for properties in Aberaeron and has limited impact for conveyancing in Aberaeron 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 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 after 2037 is to be extinguished.
What can a local search inform me about the property we're buying in Aberaeron?
Aberaeron conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company for example Onsearch The local search is essential in every Aberaeron conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your new home. The search should provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
Have purchased a a detached house in Aberaeron , What is the estimated time for the Land Registry to register my ownership? My Aberaeron conveyancing solicitor works at snail pace, so I want to be certain that my name is recorded.
There is nothing unique about conveyancing in Aberaeron registration formalities. As opposed to being determined by geographic area, timescales can differ subject to who lodges the application, whether there are errors and whether the Land registry communicate with any 3rd persons or bodies. Currently roughly three quarters of submission are fully addressed within two weeks but some can be subject to protracted delays. Registration is effected once the new owner has moved in to the premises thus post completion formalities is not always primary concern but where it is urgent that the the registration takes place urgently then you or your solicitor must communicate with the Registry to express the reasoning for the application to be prioritised.
I have been on the look out for a ground for flat up to £305k and found one near me in Aberaeron I like with open areas and railway links nearby, however it only has 52 years unexpired on the lease. There is not much else in Aberaeron suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
I am using a search engine for the words cheap conveyancing in Aberaeron it shows results of many conveyancersin the vicinity. How do I determine which is the right property lawyer for my move?
The ideal method of choosing a suitable conveyancer is via trusted testimonial, so enquire of friends and relatives who have bought a property in Aberaeron or a reputable estate agent or financial adviser. Charges for conveyancing in Aberaeron differ, so it's a good idea to obtain at least three quotes from varying types of property lawyers. Dont forget to clarify that the costs are assured not to to be inflated.
Am in the process of buying my first home in Aberaeron. Conveyancing solicitor already appointed. The broker pointed out that a survey is not appropriate as the property was only constructed twenty two years ago.
At the very least you should order a Home Buyer's Report. As the premises is over ten years old the property will not benefit from a warranty, so you don't want to take a risk. Where a property of this age shows no signs of defects a Home Buyer's report may be sufficient. The report should highlight any apparent issues and suggest additional investigation if relevant. Where there are any signs of material issues seek a comprehensive structural survey.