Do the conveyancing solicitors that you recommend handle attended exchange conveyancing in Bideford?
We do have a number of conveyancing specialists who can conduct attended exchanges. You should contact us to receive a fee calculation and details as to dates.
I am the registered owner of a freehold residence in Bideford but still charged rent, why is this and what is this?
It is rare for properties in Bideford and has limited impact for conveyancing in Bideford 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 creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
I am purchasing my first flat in Bideford with the aid of help to buy. The sellers refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not to tell my solicitor about the extras as it may jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking into buying my first house which is in Bideford and I am already nervous. I couldn't find anything specific about Bideford. Conveyancing will be needed in due course but do you know about the Bideford area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Bideford. In the meantime here are some basic statistics that we found
I am attracted to a two maisonettes in Bideford which have about forty five years left on the lease term. Will this present a problem?
There are no two ways about it. A leasehold flat in Bideford is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of purchasers and mortgage companies, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bideford conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I acquired a ground floor flat in Bideford, conveyancing having been completed in 2000. How much will my lease extension cost? Equivalent properties in Bideford with an extended lease are worth £186,000. The ground rent is £55 levied per year. The lease ends on 21st October 2077
With just 52 years left to run we estimate the premium for your lease extension to be between £29,500 and £34,000 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 cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.
My friend mentioned that when choosing a conveyancing solicitors they must be approved by your lender. I am novice purchaser but I have an AIP via Halifax and I already have a family conveyancing lawyer in Bideford at the ready. Can Birmingham Midhshires require an approved lawyer to be used? Does a list of approved firms even exist so I can appoint a conveyancing solicitor in Bideford?
You need to use a solicitor that is on the Birmingham Midhshires panel. The first thing to do is ring your preferred Bideford conveyancing lawyer to check if they are on the Birmingham Midhshires panel. If they are not approved you have numerous alternatives available to you here:
- Proceed with your existing Bideford conveyancer but Birmingham Midhshires will no doubt appoint a property lawyer on their approved panel. This will result in additional charges and probable delay.
- Appoint a fresh property lawyer to conduct the conveyancing, making sure they are on the Birmingham Midhshires conveyancing panel.
- Convince your solicitor to pull out all the stops to get accepted on the Birmingham Midhshires panel of solicitors.