I purchased a freehold house in Kimbolton but still invoiced for rent, why is this and what is this?
It is rare for properties in Kimbolton and has limited impact for conveyancing in Kimbolton 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 fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
My bank has recommended a law firm on their panel based in Kimbolton but I would rather instruct a conveyancing lawyer in Kimbolton round the corner to me. Can you help?
The minority of Kimbolton conveyancing firms are on all lender’s conveyancing panel. Use the above find an approved solicitor tool to choose a Kimbolton conveyancing conveyancer on the on the mortgage company panel.
A relative advised me that if I am purchasing in Kimbolton I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Kimbolton conveyancing searches. It is not a small report of more than thirty pages, listing and detailing significant information about Kimbolton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Kimbolton Education with maps and statistics, Local Amenities and other useful information about Kimbolton.
I'm buying my first flat in Kimbolton benefiting from help to buy. The builders refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The property agent told me not inform my conveyancer about the side-deal as it could put at risk my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
How do I use the search tool to select a conveyancing lawyer in Kimbolton on the approved list for my bank?
1st choose a mortgage company such as Barclays , Bank of Scotland or TSB then choose your location e.g. Kimbolton. Conveyancing firms in Kimbolton and beyond will then be shown.
Expecting to complete next month on a leasehold property in Kimbolton. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Kimbolton should include some of the following:
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Changes to the property Does the lease prevent you from letting out the property, or having a home office for business You should know whether the lease permits you to alter or improve aspects of the premises- you must be made aware as to whether it applies to all alterations or just structural alteration, and whether consent is mandated necessary Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? Defining your legal entitlements in relation to the communal areas in the building.By way of example, does the lease permit a right of way over an accessway or staircase?
I inherited a leasehold flat in Kimbolton, conveyancing was carried out in 1995. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Kimbolton with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2100
With only 75 years unexpired we estimate the premium for your lease extension to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to 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.