I purchased a freehold property in Claverley but still pay rent, why is this and what is this?
It’s unusual for properties in Claverley and has limited impact for conveyancing in Claverley 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 many centuries, but the Rent Charge Act 1977 barred the establishment 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 will be extinguished.
My brother-in-law has suggested I instruct a conveyancing solicitor in Claverley. I need to find out whether they are accepted on the Santander conveyancing panel. Could you or the lender confirm if they are on the panel?
You should contact your conveyancer and ask them if they can act for the bank. Otherwise you should call Santander who may be able to help.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Claverley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Claverley. 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've recently found out that there is a flying freehold element on a property I have offered on last month in what should have been a straight forward, no chain conveyancing. Claverley is the location of the property. Can you shed any light on this issue?
Flying freeholds in Claverley 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 Claverley you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Claverley may decide 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 premises.
My husband and I are first time buyers - agreed a price, but the estate agent informed us that the owners will only issue a contract if we appoint the agent's recommended lawyers as they want an ‘expedited deal’. We would rather use a family conveyancer with experience of conveyancing in Claverley
We suspect that the owner is unaware of this ultimatum. If they want ‘a quick sale', alienating a motivated purchaser is likely to cause more damage than good. Contact the sellers directly and make sure they understand (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you intend to appoint your preferred Claverley conveyancing firm - as opposed tothose that will provide the estate agent a commission or meet his conveyancing targets pre-set by senior management.
I wish to rent out my leasehold apartment in Claverley. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Some leases for properties in Claverley do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I bought a leasehold flat in Claverley, conveyancing was carried out in 2012. 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? Similar flats in Claverley with over 90 years remaining are worth £255,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2098
With just 73 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.