I was advised today by my broker that my Henfield lawyer is not on the lender Conveyancing panel. What can I do to check?
You need to call your Henfield conveyancer. It is reasonable to expect your lawyer to advise you of the situation. Where they are not on the panel they may recommend you to a Henfield conveyancing practice that is on the conveyancing panel for your bank.
Last January we completed a house move in Henfield. We have since encountered a number of issues with the property which we believe were overlooked in the conveyancing searches. What action can we take? What searches should? have been carried out for conveyancing in Henfield?
The question is not clear as to the nature of the problems and if they are unique to conveyancing in Henfield. Conveyancing searches and due diligence undertaken as part of the buying process are designed to help avoid problems. As part of the process, the vendor fills in a document called a SPIF. If the information ends up being inaccurate, you could possibly take legal action against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Henfield.
I own a freehold property in Henfield but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Henfield and has limited impact for conveyancing in Henfield 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 establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
How does conveyancing in Henfield differ for new build properties?
Most buyers of new build property in Henfield approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is completed. This is because developers in Henfield tend to purchase the site, 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 property lawyers 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 Henfield or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Henfield is the location of the property. Can you shed any light on this issue?
Flying freeholds in Henfield are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Henfield you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Henfield may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am in need of some leasehold conveyancing in Henfield. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Henfield - 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.
I invested in buying a 1 bedroom flat in Henfield, 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? Corresponding properties in Henfield with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease expires on 21st October 2077
With just 52 years remaining on your lease the likely cost is going to range between £29,500 and £34,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.