I own a freehold property in Higham Wood yet charged rent, why is this and what is this?
It’s unusual for properties in Higham Wood and has limited impact for conveyancing in Higham Wood 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 from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
My bid for a property was accepted at auction in Higham Wood. Conveyancing is required. What is next?
Now that you are exchanged you must hire the services of a conveyancing lawyer soon as you now have a fast approaching deadline in which to complete the purchase. Every auction property will ordinarily have a bespoke auction set of papers. This should include most,if not all of the paperwork that your conveyancer requires. Where you are dealing with leasehold premises the auction pack should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You must hand this to the solicitor instructed by you as soon as possible. Do make sure that that you have the requisite funding in order to complete the transaction on the set completion date.
How can we tell if a Higham Wood conveyancing solicitor on the Leeds Building Society panel is any good?
When it comes to conveyancing in Higham Wood obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor handling your transaction.
I've read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Higham Wood solicitor - who is on the Co-operative conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Higham Wood postcode. As you are getting a mortgage with Co-operative, you could contact them to see if they have a list of approved surveyors in Higham Wood.
About to purchase a new build flat in Higham Wood. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Higham Wood
-
Please supply a car parking plan. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are architect prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I decided to have a survey completed on a property in Higham Wood in advance of appointing solicitors. I have been told that there is a flying freehold element to the house. Our surveyor has said that some banks will not grant a mortgage on this type of house.
It depends who your proposed lender is. Santander has different instructions from Halifax. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Higham Wood. Conveyancing will be smoother if you use a solicitor in Higham Wood especially if they are accustomed to such properties in Higham Wood.
What does commercial conveyancing in Higham Wood cover?
Higham Wood conveyancing for business premises covers a wide array of services, provided by qualified solicitors, relating to business property. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
Planning to exchange soon on a ground floor flat in Higham Wood. Conveyancing lawyers have said that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Higham Wood should include some of the following:
-
Whether your lease provides for a sinking account for major repairs? Setting out your legal entitlements in respect of the communal areas in the block.For example, does the lease include a right of way over a path or hallways? You should be told what is to be regarded as a Nuisance as far as the lease is concerned Where does the liability rest to repair and maintain the building. It is essential that you know who is liable for the repair and maintenance of all parts of the block and estate Your solicitors should enable you to have an understanding of the insurance provisions
Higham Wood Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing
-
The prefered form of lease structure is a share of the freehold. In this arrangement the tenants have being in charge if their destiny and notwithstanding that a managing agent is frequently retained where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Be sure to enquire if there is anything that is prohibited in the lease. By way of example some leases prohibit pets being permitted in certain buildings in Higham Wood. If you love the flatin Higham Wood yet your cat is not allowed to move with you then you will be faced hard choice. You should be aware if it is less than eighty years it will have adverse implications on the salability of the property. It is worth checking with your lender that they are willing to lend given the lease term. A short lease means that you will almost definitely need a lease extension at some point and you need to have some idea of how much this will be. For most Higham Woodlease extensions you would be required to have been the owner of the premises for 24 months in order to be eligible to extend the lease.