We are buying our first house. The conveyancer has texted usto ask if we would like to purchase additional conveyancing searches. We are really unsure what's relevant for conveyancing in Kimbolton
The type of Kimbolton conveyancing searches should be dictated entirely on the property, the location, the likelihood of any of these risks, your familiarity of the locality and risks, your overall attitude to risk. What matters is that you adequately understand what information each search could provide. Then you can decide if you personally think you need that search. If unsure, ask the solicitor to recommend.
I am the registered owner of a freehold property in Kimbolton but nevertheless pay 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 hundreds of years, but the Rent Charge Act 1977 barred the generation 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 in 2037 will be extinguished.
I note that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when buying a property in Kimbolton? or Apparently there is an ancient law that could mean that owners of property residing in a parish church boundary may be liable to pay for maintenance to the chancel in proximity to the church. Is this suitable for conveyancing in Kimbolton?
Unless a prior purchase of the premises completed after 12 October 2013 you could expect lawyers handling conveyancing in Kimbolton to remain encouraging a chancel search and or insurance against a claim.
How does conveyancing in Kimbolton differ for newly converted properties?
Most buyers of new build premises in Kimbolton come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Kimbolton usually buy 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 Kimbolton or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Kimbolton I like with open areas and railway links nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Kimbolton in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
In what way can the Landlord & Tenant Act 1954 affect my commercial property in Kimbolton and how can your lawyers assist?
The particular law that you refer to affords protection to commercial lessees, giving them the dueness to apply to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Kimbolton is one of the hundreds of areas of the UK in which our lawyers are based