I purchased a freehold property in Harbury but still invoiced for rent, why is this and what is this?
It is rare for properties in Harbury and has limited impact for conveyancing in Harbury 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.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
Due to the advice of my in-laws I had a survey completed on a house in Harbury before retaining conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some mortgage companies may not grant a loan on this type of house.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Harbury. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Harbury to see if the conveyancing will be more expensive.
My company is wishing to lease a unit on the high street. Can you recommend lawyers offering fixed fees for commercial conveyancing in Harbury for below £1,200?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Harbury, including the disposal and acquisition of businesses as well as simply property. If you are looking to purchase or sell a shop, pub, restaurant, office, retail premises or a complete business we can find you the right lawyer. As for the fees this will depend on the structure and complexity of the proposed transaction. Please provide us with your contact information or phone us so that we can furnish you with comprehensive commercial conveyancing quote.
We're FTB’s - had an offer accepted, yet the property agent told us that the vendor will only issue a contract if we appoint the agent's chosen conveyancers as they want a ‘quick sale’. We would rather use a local conveyancer with experience of conveyancing in Harbury
It is improbable the vendors are behind this. Should the owner desire ‘a quick sale', alienating a genuine buyer is counter productive. Speak to the owners direct and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are chain free (d) you intend to proceed fast (e)but you intend to appoint your own,trusted Harbury conveyancing lawyers - not the ones that will give the negotiator at the agency a introducer fee or achieve conveyancing targets pre-set by senior management.
I work for a reputable estate agency in Harbury where we have witnessed a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Harbury conveyancing solicitors. Can you confirm whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 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 sale.
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 buyer.
Leasehold Conveyancing in Harbury - Examples of Queries Prior to buying
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It is important to be aware if redecorating or some other major work is anticipated that will be shared amongst the leasehold owners and could well materially impact the level of the maintenance costs or require a specific payment. The best form of lease structure is a share of the freehold. In this situation the lessees benefit from control and even though a managing agent is often employed if it is larger than a house conversion, the managing agent retained by the leaseholders.
We are soon to purchasing a flat in Harbury. Could our solicitor have the amount we are are purchasing for a secret from sites such as Nestoria. Is this achievable and how?
HMLR by statute are required to note price sold information on a register of the title for domestic properties countrywide including properties in Harbury. The register of title is a public document, so the Land Registry would be breaching their statutory obligations excluded specific homes such as the one in Harbury.
You can make a request of the Land Registry to hide the amount paid entry however the response will be in the negative.