Me and my partner are due to exchange buying a house in Ludgershall but as a result of damage from the recent storms I have was able negotiate reparation from the vendor of £3k in the form of a reduction in the price. This was going to be dealt with as part of amending the contract however Nottingham will not permit this. Why were they involved?
Your conveyancer that is on a Nottingham conveyancing panel is required to disclose to Nottingham of any variations to the purchase price. If you prohibit your lawyer to notify the price change to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new solicitor for your conveyancing in Ludgershall.
I am the registered owner of a freehold premises in Ludgershall yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Ludgershall and has limited impact for conveyancing in Ludgershall 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 new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
Are there restrictive covenants that are commonly identified as part of conveyancing in Ludgershall?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Ludgershall. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a ground for flat up to £195,000 and found one close by in Ludgershall I like with a park and transport links nearby, however it only has 49 remaining years left on the lease. There is not much else in Ludgershall for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan the shortness of the lease may be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I'm remortgaging my current property to a BTL mortgage with Virgin Money and intend to use the remaining equity towards further property. The location we are looking at is Ludgershall. Will your lawyers be able to act for the two banks and link together the two deals?
Make use of our comparison tool on this page to be sure that the conveyancers are approved by both mortgage companies. Assuming that they are the conveyancer will be able to tie up the two deals but you should have a chat with you solicitor and specify your desired outcome and needs.
My wife and I may need to rent out our Ludgershall garden flat for a while due to taking a sabbatical. We instructed a Ludgershall conveyancing firm in 2001 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Ludgershall do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Ludgershall Leasehold Conveyancing - A selection of Questions you should consider before buying
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What is the length of the lease? Best to be warned whether window replacement or some other major work is anticipated to be shared amongst the leaseholders and could well dramatically increase the the service charges or require a one time payment. This question is important as a) areas can result in problems for the block as the common areas may start to deteriorate where repairs are not paid for b) if the leasehold owners have an issue with the running of the building you will need to know about it