I am the registered owner of a freehold premises in Pontprennau but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Pontprennau and has limited impact for conveyancing in Pontprennau 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
Have purchased a a detached house in Pontprennau , how long will it take for the Land Registry to deal with the formalities evidencing the transfer to my name? My Pontprennau conveyancing solicitor has been very slow, so I want to check the land registry aspects are concluded.
There is nothing unique about conveyancing in Pontprennau registration formalities. As opposed to being determined by geographic area, timeframes can differ according to who lodges the application, whether there are errors and whether the Land registry need to notify any 3rd persons or bodies. Currently roughly three quarters of submission are fully dealt with within two weeks but occasionally there can be extensive delays. Historically registration occurs after the new owner has moved in to the premises so an expedited registration is not always primary concern but where it is urgent that the the registration takes place urgently then you or your conveyancer can speak with the land registry and explain the circumstances.
I am looking for a flat up to £245,000 and found one near me in Pontprennau I like with a park and transport links nearby, the downside is that it only has 61 remaining years left on the lease. There is not much else in Pontprennau suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the shortness of the lease may be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may request that they commence the lease extension formalities 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 matter.
I'm refinancing my primary home to a buy to let loan with Clydesdale and intend to use the remaining equity towards a second property. The location we are looking at is Pontprennau. Will your conveyancers be able to act for both sets of banks and link together the transactions?
Make use of our comparison tool on this site to be sure that the solicitors are approved by both lenders. Assuming that they are your lawyer will be able to simultaneously deal with the two transactions but you should have a chat with you conveyancer and make clear your desired outcome and needs.
My husband and I are first time buyers - agreed a price, yet the agent has warned us that the vendor will only issue a contract if we use the agent's preferred lawyers as they are insisting on a ‘quick sale’. We would rather use a local solicitor used to conveyancing in Pontprennau
We suspect that the seller is unaware of this ultimatum. If they desire ‘a quick sale', alienating a genuine purchaser is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and make sure they comprehend that (a)you are genuine buyers (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you will continue to appoint your own,trusted Pontprennau conveyancing solicitors - rather thanthose that will give their negotiator at the agency a kickback or meet his conveyancing targets demanded by HQ.
Estate agents have just been given the go-ahead to market my 2 bed flat in Pontprennau. Conveyancing solicitors are to be appointed soon, but I have just received a half-yearly service charge demand – Do I pay up?
The sensible thing to do is pay the service charge as you normally would because all rents and service payments will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I bought a split level flat in Pontprennau, conveyancing formalities finalised 7 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Pontprennau with a long lease are worth £190,000. The ground rent is £45 yearly. The lease expires on 21st October 2088
You have 62 years unexpired the likely cost is going to be between £17,100 and £19,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.