Find a Lender-Approved Local Conveyancer in Lavenham

I own a freehold premises in Lavenham yet charged rent, why is this and what is this?

It’s unusual for properties in Lavenham and has limited impact for conveyancing in Lavenham 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 creation of new 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 post 2037 is to be dispensed with completely.

How do I find out if the solicitor carrying out my conveyancing in Lavenham is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus paying £187.00 plus VAT in additional conveyancing charges.

Please do take advantage of the search tool on this page. Pick the lender and type ‘Lavenham’ or your location and you will see numerous conveyancers located in Lavenham or nearest you.

I have been on the look out for a ground for flat up to £245,000 and found one near me in Lavenham I like with a park and transport links in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Lavenham for this price, so just wondered if I would be making a grave error buying a lease with such few years left?

If you require a mortgage that many years will likely be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.

In my capacity as executor for the will of my father I am selling a residence in Swansea but reside in Lavenham. My solicitor (approximately 250 miles from meneeds me to sign a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing practitioner in Lavenham to witness and place their company stamp on the document?

strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are located in Lavenham

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Lavenham. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Lavenham ?

Most houses in Lavenham are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are purchasing in Lavenham so you should seriously consider looking for a Lavenham conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should report to you on the legal implications.

I purchased a studio flat in Lavenham, conveyancing formalities finalised 3 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Lavenham with an extended lease are worth £185,000. The ground rent is £65 invoiced every year. The lease terminates on 21st October 2085

With only 61 years left to run we estimate the price of your lease extension to span between £18,100 and £20,800 as well as costs.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.

I have just become aware that one of the directors of the firm acting on the purchase conveyancing in Lavenham is is the father of the seller. Is this acceptable?

On the basis that no conflict arises this is permitted. Where you are needing a mortgage then the mortgage company may have a say as many banks have specific requirements on this. For example for Yorkshire Building Society as of 10/11/2024, the requirements read as follows :