I am the registered owner of a freehold property in Bideford yet pay rent, why is this and what is this?
It’s unusual 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 have existed for many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
Our bank has recommended a law firm on their panel based in Bideford but I would rather choose a conveyancing lawyer in Bideford or nearer to where I live. Are you able to assist?
The minority of Bideford conveyancing practitioners are on all banks conveyancing panel. Use the above find an approved solicitor tool to choose a Bideford conveyancing firm on the on the lender panel.
Are there restrictive covenants that are commonly picked up during conveyancing in Bideford?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Bideford. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the input of my in-laws I had a survey completed on a property in Bideford before appointing conveyancers. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some banks may refuse to issue a loan on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. If you call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bideford. Conveyancing may be slightly more expensive based on your lender's requirements.
We are a fortnight into a freehold purchase having been referred to solicitors by the estate agent to carry out the conveyancing in Bideford. I am am starting to be dissatisfied with the level of service. Could you you assist me in finding new conveyancers?
They would have to be very bad to suggest diss instructing them. Has the mortgage been issued? If so you need to advise them of the new contact details and have the loan are issued to the new lawyers. Your new conveyancer should be on the mortgage company panel to avoid supplemental costs and frustration. That should be your starting point. The find a solicitor tool should help you find a lender approved solicitor for your home move in Bideford
We own a leasehold flat in Bideford. Conveyancing was finished in five years ago. I have read on a number of consumer forums that I should not let the lease length fall too short. What is the reasoning?
Bideford leasehold properties are for a set term - normally ninety nine years when they commenced. However a significant appartments in Bideford were built or converted in the 70’s80’s and so such leases now have under eighty years remaining. This may sound like plenty of time however Banks, Building Societies and other mortgage institutions on the whole require leases to have at least 75 years remaining to be mortgageable. This means that when you come to sell the property you will need to extend the term of your lease if you are nearing seventy five years. To maximise the saleability of your property you should be thinking about whether or not to extend your lease well in advance of selling the property. Please note that there are advantages to doing so before the lease reaches even eighty years as when the lease is below 80 years the amount to be paid to extend starts to escalate.