I own a freehold property in Horfield but still pay rent, why is this and what is this?
It’s unusual for properties in Horfield and has limited impact for conveyancing in Horfield 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 post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
We just had an offer accepted to buy with Loughborough BS. I popped in a few local practices yet cant to find a Horfield conveyancing firm on the Loughborough BS approved list. Please you assist?
You should make the most of the find a conveyancing panel solicitor tool on this site. Pick the mortgage company and type Horfield or your preferred area and you will discover numerous conveyancers based in Horfield or near you.
Forgive me if this question is silly but I am wet behind the ears as a first time purchaser of a two bedroom flat in Horfield. Do I pick up the keys to the premises on the completion date from my lawyer? If so, I will find a local conveyancing solicitor in Horfield?
On the day of completion you do not need to attend the conveyancers office in Horfield. Conveyancing lawyers for you will arrange to send the completion advance to the seller's solicitors, and shortly after the monies have arrived, you will be called to receive the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
I have been told by my solicitor that lack of building regulations insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Horfield?
The right level of lack of building regulations indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and Bank of Scotland. Conveyancing lawyers as opposed to members of the public take out such insurances.
I currently have a mortgage with Clydesdale for my property in Horfield. Conveyancing has been completed some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Clydesdale?
Clydesdale must be informed of your intention in advance of letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. You need not do this via a Clydesdale conveyancing panel firm.
I decided to have a survey done on a house in Horfield before instructing solicitors. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some lenders will not issue a mortgage on this type of premises.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Horfield. Conveyancing will be smoother if you use a solicitor in Horfield especially if they are familiar with such properties in Horfield.
What is different about your site and other online quote calculators when it comes to conveyancing in Horfield?
At this site get an accurate costs illustration via a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Horfield. As opposed to estate agents and many comparison sites we are not in the business of charging firms a commission if you appoint them for your property ownership legalities in Horfield
We expect to complete the sale of our £225,000 garden flat in Horfield in 8 days. The landlords agents has quoted £396 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Horfield?
Horfield conveyancing on leasehold apartments usually involves the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be willing to do so. They may levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it exceeds £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. In reality you have no option but to pay whatever is requested of you should you wish to complete the sale of your home.
Horfield Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing
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Does the lease have more than 90 years unexpired? Who manages the building? You should want to discover as much as you can about the company managing the block as they can either make your living at the property much easier or a lot more difficult. As the proprietor of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to practical matters like the tidiness of the common parts. Ask prospective neighbours if they are happy with them. In conclusion, investigate as to the dates that you are obliged pay the service charge to the managing agents and specifically how they are spending the funds.