I am the registered owner of a freehold residence in Fenny Stratford yet invoiced for rent, why is this and what is this?
It is rare for properties in Fenny Stratford and has limited impact for conveyancing in Fenny Stratford 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 lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
My relative suggested that where I am buying in Fenny Stratford I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Fenny Stratford conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Fenny Stratford around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Fenny Stratford Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information concerning Fenny Stratford.
How does conveyancing in Fenny Stratford differ for new build properties?
Most buyers of new build residence in Fenny Stratford contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Fenny Stratford usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Fenny Stratford or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one round the corner in Fenny Stratford I like with amenity areas and railway links nearby, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Fenny Stratford in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan that many years may be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
How difficult is it to change solicitor as I need to find a firm on the TSB conveyancing list. I was using a family conveyancing solicitor in Fenny Stratford five minutes from me but she is not accepted by TSB
It would be our pleasure to assist you select a conveyancing solicitor in Fenny Stratford on the TSB panel. Please note that the property lawyers that we on the directory do not pay us a referral fee if you instruct them and are regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Fenny Stratford. Using the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Fenny Stratford.
I am in need of some leasehold conveyancing in Fenny Stratford. Before diving in I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Fenny Stratford - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Fenny Stratford Leasehold Conveyancing - Examples of Questions you should ask before buying
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Where a Fenny Stratford lease has fewer than 80 years it will have adverse implications on the value of the property. Check with your bank that they are content with remaining years on the lease. A short lease means that you will most likely have to extend the lease sooner rather than later and it is worth finding out how much this would cost. For most Fenny Stratfordlease extensions you will be required to have owned the property for two years before you are entitled to exercise a lease extension. You should want to discover as much as possible concerning the company managing the block as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to every day issues like the tidiness of the common parts. Ask other tenants what they think of their service. In conclusion, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and precisely what it includes. Who is in charge of the block?