I purchased a freehold house in Ainsdale but still invoiced for rent, why is this and what is this?
It is rare for properties in Ainsdale and has limited impact for conveyancing in Ainsdale 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 new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Various web forums that I have come across warn that are a common cause of obstruction in Ainsdale conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Ainsdale.
It has been 3 months following my purchase conveyancing in Ainsdale took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the input of my in-laws I had a survey completed on a house in Ainsdale before instructing lawyers. I have been told that there is a flying freehold element to the property. Our surveyor has said that some banks will refuse to grant a mortgage on this type of property.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can check with 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 Ainsdale. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ainsdale to see if the conveyancing costs will increase in light of this.
I have recently realised that I have 72 years remaining on my lease in Ainsdale. I now want to get lease extension but my landlord is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. In some cases a specialist should be useful to try and locate and to produce an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court covering Ainsdale.
I inherited a split level flat in Ainsdale, conveyancing having been completed 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Ainsdale with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2101
With 76 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
Please can you refer me to a trustworthy Ainsdale lawyer for buying an apartment? A relative recommended one but their estimate was £1150 for a 225k property. That seems high. The bank will be Co-operative.
The purpose of this site is limited to being a directory service for solicitors who wish to be listed as being on the approved conveyancing panel for Co-operative in certain locations such as Ainsdale . We dont recommend any specific property lawyer.