I have given 2 months notice to my existing landlord and have to vacate my let out property in Chesham Bois by the end of next month. Conveyancing on my purchase has just started. Can I complete in 5 weeks as don't want to have to move into short term accommodation?
The normal practice is not to serve notice for your letting until your lawyer suggests that you should. Assuming that you have not already done so, speak to your lawyer and ask them to they apply pressure on the owners lawyers, try to an agreed time frame that everyone will look towards
I purchased a freehold house in Chesham Bois yet charged rent, why is this and what is this?
It is rare for properties in Chesham Bois and has limited impact for conveyancing in Chesham Bois 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 post 2037 will be dispensed with completely.
Are the BSA intent on creating a online directory to list practices on the Earl Shilton BS conveyancing panel for instance in Chesham Bois?
Lexsure has not been advised of any intention on the part of the BSA to promote such a tool.
A friend advised me that where I am buying in Chesham Bois I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Chesham Bois conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Chesham Bois around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Chesham Bois Education with plans and statistics, Local Amenities and other useful information concerning Chesham Bois.
I am looking for a flat up to £245,000 and identified one near me in Chesham Bois I like with open areas and transport links nearby, however it only has 52 years unexpired on the lease. There is not much else in Chesham Bois suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the remaining unexpired lease term will likely be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
I would like to rent out my leasehold flat in Chesham Bois. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A lease governs the relationship between the landlord and you the leaseholder; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Chesham Bois do not prevent subletting altogether – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I inherited a 1 bedroom flat in Chesham Bois, conveyancing having been completed in 1998. 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? Comparable properties in Chesham Bois with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2095
With 70 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. 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. You should not take any other action based on this information before getting professional advice.