I am the registered owner of a freehold residence in Highnam but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Highnam and has limited impact for conveyancing in Highnam 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 fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Is it the case that all Highnam solicitor firms on the Coventry BS conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Coventry BS conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. The majority of mortgage companies do list licenced conveyancers on their panel in which case such firms would be governed by the Council of Licensed Conveyancers.
Can I be sure that the Highnam conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in Highnam seeking recommendations is a good start. 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 suggest that you speak with the solicitor handling your transaction.
We have agreed to purchase a house in Highnam. A rare aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Virgin Money your lawyer must comply with the formal instructions set out in Section two of UK Finance Lenders’ Handbook for Virgin Money. The CML Handbook contains minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Virgin Money where a lease fails to meet these specifications. The conditions relate to the installation of panels on properties nationwide and is not limited to Highnam.
I need some quick conveyancing in Highnam as I am faced with an ultimatum to sign on the dotted line within 3 weeks. Fortunately I do not need a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are are a mortgage free buyer you have the choice not to do searches although no conveyancer would recommend that you don't. Drawing on years of experience of conveyancing in Highnam the following are examples of issues that can arise and adversely affect market value: Enforcement Actions, Overdue Fees, Outstanding Grants, Unadopted Roads,...
How does conveyancing in Highnam differ for newly converted properties?
Most buyers of new build property in Highnam contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because new home sellers in Highnam tend to acquire 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 Highnam or who has acted in the same development.
Taking into account that I am about to spend 450k on 3 bedroom house in Highnam I wish to talk to a conveyancer regarding theconveyancing ahead of giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the lawyer due to be doing your property ownership legalities in Highnam.There is no ‘factory style conveyancing’ - every client is an important individual, not a file number. The law firms that we put you in touch with believe that the fees you are provided with for your conveyancing in Highnam should be the figure that you are charged.
I am in need of some leasehold conveyancing in Highnam. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Highnam - 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 own a ground floor flat in Highnam, conveyancing was carried out 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Highnam with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2081
You have 55 years left to run we estimate the price of your lease extension to range between £31,400 and £36,200 plus legals.
The suggested premium range 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 the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.