I am the registered owner of a freehold house in Godshill but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Godshill and has limited impact for conveyancing in Godshill 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 new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
We're in Godshill, First time buyers buying with a mortgage (lender is Clydesdale , and our lawyer is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
We are purchasing a victorian detached house in Godshill. Our aim is to carry out an extension to the side at the property.Will the conveyancing process include enquiries to determine if these alterations are permitted?
Your property lawyer should review the registered title as conveyancing in Godshill can occasionally reveal restrictions in the title deeds which prevent certain alterations or require the permission of another owner. Certain works need local authority planning permissions and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be wise to check these issues with a surveyor prior to committing yourself to a purchase.
I'm the sole beneficiary of my late mum's will with all property in now in my sole name, including the my former home in Godshill. The Godshill property was put into my name in May. I want to move. I understand that there is a CML six month 'rule', meaning my proprietorship could be considered the same way as though I had purchased the house in May. Is the property unsalable for six months?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. Most lenders would take a sensible view as this clause primarily exists to identify the purchase and immediately sell or the quick reselling of property.
My fiancee and I are in the throws of looking at houses in Godshill and I am now considering a potential offer. Should I already have a conveyancing practitioner appointed at this point? I am planning to take a home loan with Clydesdale.
It would be advisable to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. As you are seeking a mortgage with Clydesdale, ask your prospective lawyers if they are on the Clydesdale conveyancing panel otherwise they can't do the mortgage legal work.
I am purchasing a house and the conveyancer has raised the issue of Chancel Repair for which the property could be liable because it falls into the area of such a church. She has recommended insurance. Is this really warranted for conveyancing in Godshill
Unless a prior acquisition of the premises completed post 12 October 2013 you could expect lawyers delivering conveyancing in Godshill to remain recommending a chancel search and or chancel repair liability policy.
I am employed by a long established estate agency in Godshill where we have witnessed a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Godshill conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the registered owner of a garden flat in Godshill, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Godshill with a long lease are worth £201,000. The ground rent is £45 per annum. The lease finishes on 21st October 2090
With just 64 years left to run we estimate the premium for your lease extension to be between £14,300 and £16,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
My aim is to purchase a ground floor maisonette in Godshill. Conveyancing solicitor has been waiting for, from the seller, building insurance documents. Earlier today I was informed that the seller must forward the insurance schedule for the flat above in addition. Why does my conveyancer want to review the insurance for the other flat? Is it strictly necessary? We have been waiting for the last fortnight…
It is not impossible in leasehold conveyancing in Godshill to discover Conveyancing in Godshill in a minority of cases reveals that the lease provides for the tenant's to insure their individual flats as opposed to the landlord insuring the complete premises - which is definitely better. You should contact your lawyer but it would appear that your lawyer is looking to establish that the whole building is insured. Insuring your flat is no help when it comes to rebuilding after a fire if the other flat cannot be rebuilt as a result of lack of insurance.