I am the registered owner of a freehold house in Broad Haven but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Broad Haven and has limited impact for conveyancing in Broad Haven 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
Are there restrictive covenants that are commonly picked up during conveyancing in Broad Haven?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Broad Haven. 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…’
I opted to have a survey done on a property in Broad Haven prior to appointing lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies tend not grant a mortgage on this type of premises.
It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. If you call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Broad Haven. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Broad Haven to see if the conveyancing will be more expensive.
Taking into account that I am about to spend over three hundred thousand on a terraced house in Broad Haven I would like to have a conversation with the lawyer concerning thehome move in advance of instructing the firm. Can this be arranged?
We could not agree more - we would be happy to talk to you we do not take any clients on without you speaking to the solicitor due to be carrying out your conveyancing in Broad Haven.There is no ‘factory style conveyancing’ - each client is an important person, not a case reference. The practices that we put you in touch with believe that the fees you are quoted for your conveyancing in Broad Haven should be the amount on the final invoice that you are charged.
I am tempted by the attractive purchase price for a couple of flats in Broad Haven which have approximately fifty years remaining on the lease term. should I be concerned?
There are plenty of short leases in Broad Haven. The lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field.
I purchased a basement flat in Broad Haven, conveyancing was carried out in 1997. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Broad Haven with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 per annum. The lease comes to an end on 21st October 2086
With only 60 years left to run we estimate the premium for your lease extension to range between £20,000 and £23,000 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
Why is New Build conveyancing in Broad Haven more costly?
Conveyancing in Broad Haven for recently converted or new build premises usually involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as supplemental investigations and contractual considerations.