Would the conveyancing solicitors listed on your site handle conveyancing in Raunds by way of an attended exchange?
There are a few conveyancing experts carrying out 24hr exchanges. Do contact us to secure a costs illustration and details as to availability.
I am the registered owner of a freehold property in Raunds but still pay rent, why is this and what is this?
It is rare for properties in Raunds and has limited impact for conveyancing in Raunds 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 generation 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 post 2037 will be extinguished.
My husband and I wish to acquire a newbuild flat in Raunds with a mortgage from Birmingham Midshires.We like our Raunds conveyancing practitioner but Birmingham Midshires advised that she’s not on their approved list of firms. We have to appoint a Birmingham Midshires panel lawyer or keep our high street solicitor and pay for a Birmingham Midshires panel lawyer to act for them. This seems very unfair; is there anything we can do?
No, not really. The home loan issued to you is subject to its terms and conditions, a common one being that conveyancers will be on the Birmingham Midshires approved list. in the past, most lenders had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Birmingham Midshires
Are there restrictive covenants that are commonly identified during conveyancing in Raunds?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Raunds. 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…’
The estate agent has sent us the confirmation of our purchase of a new build apartment in Raunds. 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 legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Raunds
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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 confirm the Lease plans are surveyor prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I work for a reputable estate agent office in Raunds where we have witnessed a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Raunds conveyancing firms. Can you shed some light as to whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Raunds - A selection of Questions you should ask before buying
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Are any of leasehold owners in dispute over their service charge payments? The prefered form of lease structure is if the freehold title is in the ownership of the leaseholders. In this scenario the leaseholders benefit from control and although a managing agent is usually retained where the building is bigger than a house conversion, the managing agent employed by the leaseholders. The answer will be important as a) areas may cause problems for the block as the communal areas may start to deteriorate where services remain unpaid b) if the leasehold owners have a dispute with the managing agents you will need to know about it