I am the registered owner of a freehold house in Burslem but still charged rent, why is this and what is this?
It is rare for properties in Burslem and has limited impact for conveyancing in Burslem 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 establishment of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Does this mean I have to use their panel lawyer as I would prefer to appoint a Burslem based conveyancing firm?
You should check but the chances are that give you one of their panel solicitors should you accept the "fee-free" incentive. Call the mortgage company and check if they make available a cash alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Burslem.
A colleague suggested that where I am purchasing in Burslem I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Burslem conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Burslem around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Burslem Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information regarding Burslem.
I acquired my house on 16 September and my personal details are still not on the land registry website. Need I be worried? My conveyancing solicitor in Burslem advises it should be recorded in less than a month. Are properties in Burslem particularly slow to register?
As far as conveyancing in Burslem is concerned, registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timeframes can differ depending on the party submitting the application, whether there are errors and if the Land registry communicate with any interested persons or bodies. At present roughly three quarters of such applications are fully addressed within two weeks but some can be subject to longer delays. Historically registration is effected after the buyer has moved in to the premises so an expedited registration is not usually primary concern yet where there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for the application to be prioritised.
In surfing the web for the phrase cheap conveyancing in Burslem it reveals numerous conveyancerslocally. With so much choice what is the best way to find the suitable conveyancing solicitor for purchase transaction?
The preferential way of choosing a suitable conveyancer is through a personal recommendation, so seek the counsel of friends and family who have acquired a property in Burslem or the reputable estate agent or financial adviser. Fees for conveyancing in Burslem vary, so it's sensible to obtain a minimum of three estimates from different companies. Make sure that you clarify that the costs are assured not to increase.
I work for a busy estate agent office in Burslem where we have experienced a number of flat sales jeopardised as a result of short leases. I have been given conflicting advice from local Burslem conveyancing firms. Can you confirm whether the owner of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, 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 purchaser.
I invested in buying a ground floor flat in Burslem, conveyancing formalities finalised in 1995. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Burslem with an extended lease are worth £206,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2090
You have 66 years left to run we estimate the price of your lease extension to range between £11,400 and £13,200 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.