I own a freehold premises in Edith Weston but still pay rent, why is this and what is this?
It is rare for properties in Edith Weston and has limited impact for conveyancing in Edith Weston 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 many centuries, but the Rent Charge Act 1977 barred the generation 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 is to be dispensed with completely.
Our mortgage company has suggested solicitors on their panel based in Edith Weston but I would rather use a conveyancing lawyer in Edith Weston local to me. Are you able to help?
Not all Edith Weston conveyancing solicitors are approved and listed on all banks conveyancing panel. Use the above find an approved solicitor tool to choose a Edith Weston conveyancing conveyancer on the on the lender panel.
Various online forums that I have come across warn that are the number one cause of hinderance in Edith Weston conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of delay in conveyancing in Edith Weston.
I am looking for a flat up to £195,000 and identified one round the corner in Edith Weston I like with open areas and transport links nearby, the downside is that it only has 51 years on the lease. I can't really find anything else in Edith Weston for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the shortness of the lease may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
I am selling my home. My past conveyancers has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Edith Weston if that makes things easier.
You should use our search tool to help you choose a solicitor for your conveyancing in Edith Weston. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
What advice can you give us when it comes to choosing a Edith Weston conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Edith Weston conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Edith Weston conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be helpful:
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If they are not ALEP accredited then what is the reason?
Leasehold Conveyancing in Edith Weston - Sample of Queries Prior to Purchasing
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Its a good idea to find out as much as possible regarding the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to every day issues such as the cleanliness of the communal areas. Ask other tenants whether they are happy with them. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and precisely how they are spending that money. Is there a share of the freehold? Please note if it is fewer than 80 years it will affect the value of the apartment. It is worth checking with your mortgage company that they are willing to lend given the lease term. A short lease means that you will most likely have to extend the lease at some point and it is worth finding out what this would cost. For most Edith Westonlease extensions you would need to own the residence for a couple of years in order to be entitled to extend the lease.