I purchased a freehold premises in Gaydon but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Gaydon and has limited impact for conveyancing in Gaydon 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 generation 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 post 2037 is to be extinguished.
I am buying my first flat in Gaydon with the aid of help to buy. The sellers refused to move on the amount so I negotiated £7000 of additionals instead. The property agent suggested that I not to tell my lawyer about this side-deal as it would affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I have been on the look out for a leasehold apartment up to £195,000 and identified one round the corner in Gaydon I like with open areas and railway links nearby, however it only has 52 years on the lease. There is not much else in Gaydon in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the shortness of the lease may be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
How easy is it to switch solicitor as I need to retain a firm on the Alliance & Leicester conveyancing panel. I instructed a family conveyancing solicitor in Gaydon round the corner but he is not approved by Alliance & Leicester
It would be our pleasure to help you select a conveyancing solicitor in Gaydon on the Alliance & Leicester panel. Please note that the property lawyers that we on the directory do not pay us fee if you instruct them and are fully regulated by the SRA who regulate all conveyancing solicitors in Gaydon. In making use of the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Gaydon.
As co-executor for the will of my uncle I am selling a residence in Monmouth but I am based in Gaydon. My solicitor (based 300 kilometers from mehas requested that I execute a statutory declaration prior to completion. Can you recommend a conveyancing practitioner in Gaydon to witness this legal document for me?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are based in Gaydon
What are your top tips when it comes to choosing a Gaydon conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Gaydon conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggest that you talk with several firms including non Gaydon conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:
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Can they put you in touch with clients in Gaydon who can give a testimonial? What are the charges for lease extension conveyancing?
Leasehold Conveyancing in Gaydon - Sample of Questions you should ask before Purchasing
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Please inform me if there are any major works on the horizon that could add a premium to the maintenance costs? What is the the remaining lease term?