I purchased a freehold house in Goodwick but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Goodwick and has limited impact for conveyancing in Goodwick 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 many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I have recentlybecome aware that Wolstenholmes have been shut down. They conducted my conveyancing in Goodwick for a purchase of a freehold house 18 months ago. How can I establish that the property is registered correctly in the name of the previous owner?
The quickest method to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Goodwick conveyancing specialists.
How does conveyancing in Goodwick differ for new build properties?
Most buyers of new build residence in Goodwick contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is constructed. This is because developers in Goodwick tend to buy the land, 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 conveyancing solicitors 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 Goodwick or who has acted in the same development.
I am looking to sell my home. My past conveyancers have shut. I am in need of a recommendation of a conveyancing firm. Im based in Goodwick if that makes things easier.
Do use our search tool to help you find a solicitor for your conveyancing in Goodwick. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
What advice can you give us when it comes to choosing a Goodwick conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Goodwick conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Goodwick conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be helpful:
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What are the legal fees for lease extension conveyancing?
I own a 1 bedroom flat in Goodwick, conveyancing having been completed 6 years ago. How much will my lease extension cost? Equivalent flats in Goodwick with over 90 years remaining are worth £179,000. The ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2082
With just 57 years left to run we estimate the price of your lease extension to be between £26,600 and £30,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
Our lawyer in Goodwick has discovered a a problem with the lease for the property we are buying in Goodwick. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer has advised that as he is on the lender conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.