I am the registered owner of a freehold premises in Billesdon yet pay rent, why is this and what is this?
It’s unusual for properties in Billesdon and has limited impact for conveyancing in Billesdon 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 establishment of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
I had intended to instruct a property lawyer in Billesdon for our house purchase. Our financial adviser informed us that our mortgage company Chelsea Building Society won't deal with them. Why is this not regarded as unduly restrictive?
Lenders tend to restrict either the category or the amount of conveyancing solicitors on their approved list of lawyers. A common example of such criteria being that a firm must not be a sole practitioner. In addition to restricting the profile of firm, some have decided to limit the number of solicitor practices they use to represent them. Be aware that Chelsea Building Society have no responsibility for the quality of advice provided by any member of Chelsea Building Society Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels a few years ago even though there remains differing opinions regarding the level of solicitor engagement in some of that fraud. Figures from the Land Registry reveal that plenty of law firms, including some in or near Billesdon only perform very few conveyances per annum.
If you had a top tip for selecting a conveyancing solicitor in Billesdon what would it be?
Do not opt for the lowest Billesdon conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
Have just purchased a probate house at auction in Billesdon. Conveyancing is needed. What is next?
Given that you have now for in every practical sense signed on the dotted line you should retain a conveyancing solicitor soon as you now have a pending a drop dead date to complete the property. An auction property should have a bespoke legal set of papers. This will likely include most,if not all of the documents that your solicitor requires. In the case of leasehold premises the legal pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to a leasehold property. You must give this to the solicitor instructed by you at the earliest opportunity. Do make sure that that you have the requisite funding in place to complete the transaction on the set completion date.
We are purchasing a 4 bedroom semi-detached house in Billesdon. We would like to convert the garage to a playroom at the house.Will the conveyancing process include investigations to determine if these alterations are permitted?
Your property lawyer will check the deeds as conveyancing in Billesdon can on occasion reveal restrictions in the title deeds which restrict certain alterations or necessitated the permission of a 3rd party. Some additions need local authority planning permissions and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be prudent to check these things with a surveyor ahead of any purchase.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Billesdon. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Billesdon
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are surveyor prepared.
In surfing the world wide web for the words cheap conveyancing in Billesdon it brings up many conveyancerslocally. With so much choice what is the best way to find the right conveyancing solicitor for me?
The preferential way of seeking a suitable conveyancer is via personal referral, so enquire of colleagues and family who have purchased a property in Billesdon or the reputable estate agent or financial adviser. Fees for conveyancing in Billesdon differ, so it's advisable to obtain a minimum of four quotes from different solicitors. Dont forget to clarify what costs in the quote includes.
I own a leasehold house in Billesdon. Conveyancing and Barclays Direct mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Billesdon who previously acted has long since retired. Do I pay?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Billesdon conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a 1 bedroom flat in Billesdon, conveyancing having been completed 10 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Billesdon with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 yearly. The lease comes to an end on 21st October 2090
With only 65 years remaining on your lease the likely cost is going to range between £13,300 and £15,400 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.