In the event thatI were to buy a freehold homein Boncath for cash and have no survey and no local authority searches how much would I expect to to save on my conveyancing in Boncath?
The sole saving you would achieve is the costs for searches. Your conveyancer still be obliged to do everything else - money laundering, communicating with the sellers lawyer, SDLT return, register the property etc. A marginal saving might be made by not needing to register a charge but it will not be significant.
I purchased a freehold house in Boncath but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Boncath and has limited impact for conveyancing in Boncath 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 establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
Should my lawyer be asking questions concerning flooding as part of the conveyancing in Boncath.
Flooding is a growing risk for solicitors dealing with homes in Boncath. Some people will buy a house in Boncath, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, however there are a numerous checks that can be carried out by the buyer or by their solicitors which will figure out the risks in Boncath. The conventional set of property information forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a standard inquiry of the owner to discover if the property has historically flooded. If flooding has previously occurred which is not revealed by the vendor, then a purchaser could bring a claim for damages stemming from an inaccurate answer. A buyer’s solicitors should also carry out an enviro search. This should indicate whether there is any known flood risk. If so, additional inquiries should be made.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Boncath is where the house is located. Can you offer any opinion?
Flying freeholds in Boncath are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Boncath you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Boncath may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I work for a long established estate agency in Boncath where we have witnessed a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Boncath conveyancing firms. Please can you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible 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.
Boncath Conveyancing for Leasehold Flats - Sample of Queries before buying
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Many Boncath leasehold properties will be liable to pay a service bill for the upkeep of the block levied by the landlord. If you acquire the apartment you will have to pay this charge, usually quarterly throughout the year. This can vary from a few hundred pounds to thousands of pounds for buildings with lifts and large common areas. In all likelihood there will be a ground rent to be met yearly, this is usually not a large sum, say about £50-£100 but you need to enquire it because on occasion it can be prohibitively expensive. It is important to be aware if a new roof is being installed or some other major work is coming up to be shared amongst the leasehold owners and will dramatically increase the the service charges or require a specific payment. What is the the remaining lease term?
The mortgage offer from a bank for the refinancing of my 4 bedroom maisonette is coming within the next few days. Are you able to recommend a cheap remortgage conveyancing law firm in Boncath ?
This site is not designed to help in pursuit of a cheap conveyancing in Boncath. Our aim is to provide value for money conveyancing but we do not aim to advertise as being the cheapest. Resist the temptation to appoint brokers offering low cost conveyancing in Boncath.At best, in opting for cheap conveyancing, you will end up with what you pay for and at worst you will end up invoiced for extras and still not receive the service expected.