I am in need of a conveyancer. Should I go for for a nationwide conveyancer as opposed to a high street Nottingham conveyancing lawyer?
Nottingham is a special area, where local know-how counts for a lot. The relaxed pace of life is great – but not when it comes to your house move. The conveyancers that we endorse display a wealth of Nottingham insight with a proactive, hands-onapproach that ensures the conveyancing to progress actively engaging with all parties to reduce communication delays. It is a definite plus that they benefit from long term relationships with mortgage brokers, search providers, valuers and other Nottingham conveyancing practitioners
I purchased a freehold premises in Nottingham but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Nottingham and has limited impact for conveyancing in Nottingham 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 establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I am purchasing a new build flat in Nottingham. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Nottingham you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Nottingham.
What does a local search inform me concerning the property we're buying in Nottingham?
Nottingham conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance PSG The local search is essential in every Nottingham conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your new home. The search will provide information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
I have been on the look out for a flat up to £195,000 and identified one round the corner in Nottingham I like with a park and railway links in the vicinity, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Nottingham suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage the shortness of the lease will likely be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
Harry (my fiance) and I may need to rent out our Nottingham ground floor flat for a while due to a career opportunity. We instructed a Nottingham conveyancing firm in 2004 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Nottingham do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse 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 permission.
I am the registered owner of a leasehold flat in Nottingham, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Nottingham with over 90 years remaining are worth £255,000. The ground rent is £45 invoiced every year. The lease finishes on 21st October 2098
With just 73 years left to run we estimate the premium for your lease extension to be 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 renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.