I am expecting a offer of a home loan from Halifax. I would like to employ the services of a Licensed Conveyancer in Nottinghamshire. Does the Halifax Solicitor panel exclude conveyancers regulated by the CLC?
The Halifax approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I am the registered owner of a freehold premises in Nottinghamshire yet pay rent, why is this and what is this?
It is rare for properties in Nottinghamshire and has limited impact for conveyancing in Nottinghamshire 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 have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
Are there restrictive covenants that are commonly identified as part of conveyancing in Nottinghamshire?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Nottinghamshire. 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…’
Over the last few months I have been searching for a ground for flat up to £235,500 and found one near me in Nottinghamshire I like with amenity areas and station nearby, however it's only got 51 remaining years left on the lease. There is not much else in Nottinghamshire in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you need a home loan the remaining unexpired lease term will likely be an issue. Discount the price 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 could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
My partner and I may need to let out our Nottinghamshire basement flat for a while due to taking a sabbatical. We instructed a Nottinghamshire conveyancing practice in 2001 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your last Nottinghamshire conveyancing lawyer is not around you can check your lease to check if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek permission via your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet in the absence of prior permission. The consent must not not be unreasonably withheld. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.
I am the registered owner of a studio flat in Nottinghamshire, conveyancing formalities finalised in 2008. How much will my lease extension cost? Equivalent flats in Nottinghamshire with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 per annum. The lease ends on 21st October 2085
With 61 years left to run the likely cost is going to range between £19,000 and £22,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
I am due to review estimates for conveyancing in Nottinghamshire from various conveyancing practitioner and choose one. Am I right to ask them to sit tight until I have found somewhere to acquire.
We suggest that you wait to request your conveyancing practitioner to commence work and apply for searches after the sales confirmation has been sent by the estate agent especially as Nottinghamshire conveyancing searches are a couple of hundred pounds.