I own a freehold property in South Brent but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in South Brent and has limited impact for conveyancing in South Brent 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 fresh 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 after 2037 will be dispensed with completely.
I'm buying a new build house in South Brent benefiting from help to buy. The builders would not reduce the amount so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not disclose to my lawyer about this extras as it would impact my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a ground for flat up to £305k and found one near me in South Brent I like with amenity areas and railway links nearby, the downside is that it's only got 51 remaining years left on the lease. There is not much else in South Brent for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage that many years will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign 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 regarding this matter.
My company is wishing to lease a unit on a shopping parade. Can you recommend solicitors offering competitive charges for non-domestic conveyancing in South Brent for below 1500k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in South Brent, including the sale and acquisition of businesses as well as simply property. Whether you are hoping to buy or dispose of a shop, pub, restaurant, office, retail premises or a complete business we will find you the right solicitor. Regarding the fees this will depend on the structure and nuances of the proposed transaction. Let us have your details or call us so that we can provide you with a fixed commercial conveyancing calculation.
As co-executor for the estate of my aunt I am selling a residence in Monmouth but I am based in South Brent. My lawyer (based 250 miles from mehas requested that I sign a stat dec before the transaction finalising. Could you suggest a conveyancing solicitor in South Brent who can attest this legal document for me?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are located in South Brent
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £325,000 apartment in South Brent in nine days. The managing agents has quoted £384 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in South Brent?
South Brent conveyancing on leasehold apartments more often than not requires the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be content to do so. They are entitled to levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge required by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, without which the charge is not strictly payable. In reality one has no choice but to pay whatever is demanded if you want to complete the sale of your home.
I am the registered owner of a basement flat in South Brent, conveyancing was carried out in 2006. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in South Brent with a long lease are worth £185,000. The ground rent is £65 levied per year. The lease terminates on 21st October 2087
You have 61 years left to run we estimate the premium for your lease extension to range between £18,100 and £20,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do 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 you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.