I am the registered owner of a freehold premises in Berkeley yet pay rent, why is this and what is this?
It is rare for properties in Berkeley and has limited impact for conveyancing in Berkeley 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 fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Is it the case that all Berkeley solicitors on the Coventry BS conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Coventry BS conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Many mortgage companies do list licenced conveyancers on their panel and in that case the organisation would be governed by the Council of Licensed Conveyancers.
I have decided to exercise my right to buy my property in Berkeley off the council. I have a mortgage offer with Skipton. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
I can not fathom if my lender requires a lease extension. I have telephoned my Berkeley bank branch on a couple of occasions and was told they are content with the situation and they would lend. My Berkeley conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they would not lend in accordance with their published requirements. I simply don't know who is right.
Provided that the conveyancing practitioner is on the mortgage company approved list, they must follow the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Will my conveyancer be raising enquiries regarding flooding as part of the conveyancing in Berkeley.
Flooding is a growing risk for lawyers carrying out conveyancing in Berkeley. Some people will purchase a property in Berkeley, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, but there are a various searches that may be initiated by the buyer or on a buyer’s behalf which should give them a better understanding of the risks in Berkeley. The standard information sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to determine whether the premises has suffered from flooding. If the premises has been flooded in past which is not revealed by the seller, then a buyer could commence a claim for damages as a result of such an incorrect answer. The buyer’s lawyers will also carry out an environmental report. This should disclose if there is a recorded flood risk. If so, further investigations should be conducted.
How does conveyancing in Berkeley differ for newly converted properties?
Most buyers of new build or newly converted property in Berkeley contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is built. This is because new home sellers in Berkeley tend to buy the land, 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 property lawyers 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 Berkeley or who has acted in the same development.
What does commercial conveyancing in Berkeley cover?
Non domestic conveyancing in Berkeley incorporates a broad range of services, given by regulated solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I am employed by a long established estate agent office in Berkeley where we have experienced a few flat sales derailed as a result of short leases. I have received inconsistent advice from local Berkeley conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Berkeley - A selection of Queries before buying
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The answer will be useful as a) areas may result in problems for the block as the communal areas may start to deteriorate where maintenance remain unpaid b) if the leaseholders have an issue with the managing agents you will wish to have complete disclosure What prohibitions are contained in the Berkeley Lease? The prefered form of lease structure is a share of the freehold. In this arrangement the tenants benefit from control and notwithstanding that a managing agent is usually employed if it is bigger than a house conversion, the managing agent retained by the leaseholders.