We were about to choose a conveyancing solicitor in Bromsgrove found using your search tool but stumbled across alternative estimates on the internet look less expensive – why is this?
There are numerous solicitors advertising supposedly cut-price conveyancing, unfortunately it’s common in such cases for extracharges end up with the completion invoice markedly uplifted. In accordance with regulatory requirements charges set out in terms of engagement should be transparent and reasonable and be applied The law firms that we put forward for conveyancing in Bromsgrove genuinely set out all costs for a domestic conveyancing case.
I am the registered owner of a freehold house in Bromsgrove yet pay rent, why is this and what is this?
It is rare for properties in Bromsgrove and has limited impact for conveyancing in Bromsgrove 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 creation of fresh 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 in 2037 will be dispensed with completely.
4 months have elapsed following my purchase conveyancing in Bromsgrove concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Bromsgrove is the location of the property. Can you shed any light on this issue?
Flying freeholds in Bromsgrove 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 Bromsgrove you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bromsgrove may determine 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.
What advice can you give us when it comes to choosing a Bromsgrove conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Bromsgrove conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Bromsgrove conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:
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How familiar is the practice with lease extension legislation? If they are not ALEP accredited then what is the reason?
Bromsgrove Leasehold Conveyancing - A selection of Queries Prior to Purchasing
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Please note that where the lease has fewer than 80 years it will have adverse implications on the value of the property. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this would cost. For most Bromsgrovelease extensions you will be be obliged to have been the owner of the residence for two years before you are eligible to extend the lease. Who takes responsibility for maintaining and repairing the block? Most Bromsgrove leasehold apartments will have a service charge for maintenance of the building invoiced by the management company. Where you buy the flat you will have to meet this liability, usually quarterly during the year. This could vary from several hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a ground rent to be met yearly, ordinarily this is not a exorbitant amount, say about £50-£100 but you need to check as on occasion it can be many hundreds of pounds.
My wife and I hope to purchase our 1st home in Bromsgrove. Conveyancing lawyer has been chosen. The broker suggested that a survey is not necessary as the property was only constructed 16 yrs ago.
You would be best advised to have a Home Buyer's Report. Given the premises was constructed more than a decade ago the property will not come with a warranty, so you don't want to take a risk. Where a property of this age shows no signs of problems a Home Buyer's report may suffice. They will highlight any apparent problems and suggest further investigation if appropriate. Where there are any indications of material issues seek a full structural survey.