Much to our surprise we have been informed by our mortgage broker that my Cheslyn Hay property lawyer is not on the lender Solicitor panel. How can I check?
You need to contact your Cheslyn Hay conveyancer. It is reasonable to expect your lawyer to inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
I purchased a freehold residence in Cheslyn Hay but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Cheslyn Hay and has limited impact for conveyancing in Cheslyn Hay 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 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 post 2037 will be extinguished.
The estate agent has sent us the confirmation of our purchase of a new build flat in Cheslyn Hay. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Cheslyn Hay
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
What does commercial conveyancing in Cheslyn Hay cover?
Non domestic conveyancing in Cheslyn Hay incorporates a wide range of advice, offered by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
Am I best advised to choose a Cheslyn Hay conveyancing practitioner in close proximity to the house I am buying? I have an old university friend who can conduct the legal formalities however they are based 400kilometers away.
The primary upside of using a local Cheslyn Hay conveyancing practice is that you can drop in to execute paperwork, deliver your identification documents and apply pressure on them if necessary. Having local Cheslyn Hay know how is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and the majority were happy that must outweigh using an unfamiliar Cheslyn Hay conveyancing solicitor solely due to them being round the corner.
I've recently bought a leasehold house in Cheslyn Hay. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a 1 bedroom flat in Cheslyn Hay, conveyancing was carried out 9 years ago. 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 Cheslyn Hay with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2092
With 66 years unexpired the likely cost is going to range between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.