I am the registered owner of a freehold residence in Kings Langley but still pay rent, why is this and what is this?
It is rare for properties in Kings Langley and has limited impact for conveyancing in Kings Langley 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 new 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 extinguished.
I am remortgaging my property in Kings Langley, does my lawyer have to be on the TSB Solicitor panel?
There is nothing to stop you using your solicitor, but TSB will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
The estate agent has sent us the confirmation of our purchase of a new build flat in Kings Langley. 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 conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Kings Langley
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are surveyor prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
How do I identify a Kings Langley law firm on the Coventry Building Society conveyancing panel? I have a car and am prepared to travel upto 20miles to meet the conveyancer.
Feel free to make use of the tool on this page. Please choose the mortgage company and your location and you will see a number of Kings Langley conveyancing lawyers located nearest you. We have detailed some Kings Langley conveyancing firms towards the end of this page and you can call them to check if they are on the Coventry Building Society approved list
We're new on the property ladder - had an offer accepted, but the agent has warned us that the owners will only issue a contract if we use the agent's chosen solicitors as they want an ‘expedited deal’. My instinct tells me that we should use a local solicitor used to conveyancing in Kings Langley
It is improbable the sellers are driving this. If they want ‘a quick sale', taking such a hostile approach to a motivated purchaser is going to damage their objectives. Try to communicate with the owners directly and explain that (a)you are serious buyers (b)you are ready to progress, with finances in place © you are chain free (d) you intend to proceed fast (e)however you will continue to appoint your preferred Kings Langley conveyancing lawyers - not the ones that will provide their estate agent a kickback or hit his conveyancing targets set by senior management.
What makes a Kings Langley lease unmortgageable?
Leasehold conveyancing in Kings Langley is not unique. All leases are drafted differently and legal mistakes in the legal wording can result in certain provisions are not included. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Coventry Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.
I acquired a leasehold flat in Kings Langley, conveyancing formalities finalised October 2005. How much will my lease extension cost? Comparable properties in Kings Langley with a long lease are worth £265,000. The ground rent is £50 yearly. The lease runs out on 21st October 2101
You have 76 years unexpired we estimate the price of your lease extension to range between £8,600 and £9,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.