I purchased a freehold residence in Ellesmere Port but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Ellesmere Port and has limited impact for conveyancing in Ellesmere Port 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
We are aiming to move property in March. Should my conveyancing solicitor update the removal company on the completion day. On a separate note, can you put forward a removal company in Ellesmere Port. Conveyancing solicitor was chosen before I stumbled across this website.
On the afternoon of completion you can collect the house keys from your estate agent but this should only occur once the previous owners conveyancers advise the agent that they acknowledge receipt of the completion payment and the keys can be passed over. You will need to inform the removal company that they can start moving you in. We are not in a position to recommend a particular removal organisation but can assist you in finding a residential property solicitor in Ellesmere Port or a solicitor that specialises in conveyancing in Ellesmere Port.
We were going to get a OIP from Principality this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Principality recommend any Ellesmere Port solicitors on the Principality conveyancing panel, or is it better to go independently?
You will need to appoint Ellesmere Port solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
My wife and I are in the process of viewing flats in Ellesmere Port and I am now considering a potential offer. Is it best to have my lawyer on ‘stand by’? I will be getting a mortgage with Yorkshire BS.
It would be prudent to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. Given that you are seeking a mortgage with Yorkshire BS, ask your prospective lawyers if they are on the Yorkshire BS conveyancing panel otherwise they can't do the mortgage legal work.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Ellesmere Port?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Ellesmere Port. 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 am purchasing my first flat in Ellesmere Port with a loan from Britannia. The developers refused to budge the price so I negotiated £7000 of extras instead. The estate agent told me not reveal to my conveyancer about the deal as it could impact my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the encouragement of my in-laws I had a survey completed on a property in Ellesmere Port before retaining solicitors. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies will not grant a mortgage on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Ellesmere Port. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ellesmere Port to see if the conveyancing costs will increase in light of this.
I own a leasehold house in Ellesmere Port. Conveyancing and Britannia mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Ellesmere Port who previously acted has now retired. Any advice?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Ellesmere Port conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a 2 bed flat in Ellesmere Port, conveyancing having been completed 8 years ago. How much will my lease extension cost? Corresponding properties in Ellesmere Port with a long lease are worth £197,000. The ground rent is £55 invoiced every year. The lease expires on 21st October 2080
With just 55 years left to run the likely cost is going to range between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.