I purchased a freehold residence in Penn but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Penn and has limited impact for conveyancing in Penn 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 fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Is there a search tool that I can use to find out if the solicitor conducting my conveyancing in Penn is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Aldermore thus paying £187.00 plus VAT in further conveyancing bill.
Feel free to make the most of the search tool on this web page. Pick the lender and type ‘Penn’ or your preferred area and you will discover numerous solicitors offices in Penn or by proximity to you.
The estate agent has sent us the confirmation of our purchase of a new build flat in Penn. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Penn
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are surveyor prepared.
Due to the guidance of my in-laws I had a survey completed on a house in Penn before retaining lawyers. I have been told that there is a flying freehold element to the house. Our surveyor advised that some lenders will not grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Penn. Conveyancing will be smoother if you use a solicitor in Penn especially if they are familiar with such properties in Penn.
What does commercial conveyancing in Penn cover?
Commercial conveyancing in Penn incorporates a broad array of guidance, supplied by regulated solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
What type of property do your Penn conveyancing estimates relate to?
Our conveyancing quotes are only applicable to standard domestic property in England & Wales. If you have any different needs such as industrial or agricultural property or commercial conveyancing in Penn please contact us to discuss this further .