I own a freehold residence in Seaforth but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Seaforth and has limited impact for conveyancing in Seaforth 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I am helping my step-mother sell her flat in Seaforth. Does the conveyancing solicitor order the energy performance certificate or do I organise this?
Following the demise of Home Information Packs, EPC’s was retained a compulsory element of moving house. An EPC needs to be to hand before the property is marketed. This is not a task that solicitors normally arrange. Where you are instructing a Seaforth conveyancing practitioner they may help arrange energy performance certificates due to their relationships with reputable local energy assessors
We previously chose conveyancing lawyers with offices in Seaforth on the HSBC solicitor approved list. They have just billed me a separate sum for the legal aspects of the HSBC mortgage. Is this a supplemental conveyancing fee specified by HSBC?
Provided it is contained in their Terms of Engagement or estimate then yes your lawyer is entitled to levy a fee for this. The charge is not set by HSBC but by your Seaforth property lawyer. Some firms on the HSBC panel will quote an ‘acting for lender’ fee but many firms include it on their overall fee.
We are getting a further advance on our home loan from HSBC as we want to conduct a loft conversion to our property in Seaforth. Do we need to choose a bricks and mortar Seaforth solicitor on the HSBC conveyancing panel to handle the legals?
HSBC would not normally require firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC list.
Just bought a terraced house in Seaforth , What is the estimated time for the Land Registry to deal with the formalities evidencing my title? My Seaforth conveyancing solicitor has been very slow, so I want to check that my name is registered.
There is nothing unique when it comes to conveyancing in Seaforth registration formalities. As opposed to being determined by geographic area, timeframes can differ according to who lodges the application, whether there are errors and if the Land registry must send notices to any third parties. At present in the region of three quarters of submission are fully dealt with within two weeks but occasionally there can be protracted hold-ups. Historically registration takes place after the buyer is living at the premises so registration formalities is not typically an essential issue yet if there is a degree of urgency associated with the registration then you or your solicitor can speak with the land registry and explain the circumstances.
Due to the encouragement of my in-laws I had a survey completed on a house in Seaforth in advance of appointing conveyancers. I have been advised that there is a flying freehold aspect to the property. The surveyor has said that some lenders tend refuse to give a loan on this type of premises.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you contact us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Seaforth. Conveyancing will be smoother if you use a solicitor in Seaforth especially if they are accustomed to such properties in Seaforth.
Expecting to exchange soon on a leasehold property in Seaforth. Conveyancing lawyers inform me that they will have a report out to me tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Seaforth should include some of the following:
-
Does the lease prevent you from letting out the flat, or working from home Rent payments - what is payable and what the invoice dates are, and also know whether this is subject to change Whether your lease caters for for a reserve account for major works? The unexpired lease term. You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years Does the lease require carpeting throughout thus preventing wood flooring?
I am the registered owner of a leasehold flat in Seaforth, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar properties in Seaforth with over 90 years remaining are worth £191,000. The ground rent is £55 invoiced annually. The lease expires on 21st October 2078
With just 53 years left to run the likely cost is going to span between £27,600 and £31,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
I've found a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Seaforth. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Seaforth ?
Most houses in Seaforth are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Seaforth so you should seriously consider looking for a Seaforth conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer will appraise you on the various issues.