I am the registered owner of a freehold residence in South Brent but nevertheless pay 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 date back hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
I am buying a new build house in South Brent with a mortgage from Chelsea Building Society. The sellers would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not to tell my conveyancer about this deal as it could jeopardize my loan with Chelsea Building Society. 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.
I am looking for a ground for flat up to £235,500 and found one close by in South Brent I like with amenity areas and transport links nearby, the downside is that it only has 49 remaining years left on the lease. There is not much else in South Brent in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan that many years will likely be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
My business partner and I are planning to lease a unit on the high street. Can you recommend conveyancers offering competitive fees for commercial conveyancing in South Brent for below £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in South Brent, including the sale and purchase of businesses as well as simply property. Whether you are intending to buy or dispose of a shop, pub, restaurant, office, retail unit or a whole business we will find you the right solicitor. Regarding the fees this will depend on the structure and terms of the proposed transaction. Please provide us with your details or call us so that we may supply you with a fixed commercial conveyancing calculation.
In my capacity as executor for the estate of my father I am selling a residence in Cardiff but reside in South Brent. My conveyancer (who is 300 kilometers from meneeds me to sign a stat dec prior to completion. Can you recommend a conveyancing practitioner in South Brent to attest this legal document for me?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are South Brent based
If all goes to plan we aim to complete our sale of a £325,000 flat in South Brent next Thursday. The management company has quoted £384 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in South Brent?
For most leasehold sales in South Brent conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering pre-exchange enquiries
Where consent is required before sale in South Brent
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I bought a 1 bedroom flat in South Brent, conveyancing formalities finalised in 2006. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in South Brent with over 90 years remaining are worth £185,000. The ground rent is £65 per annum. The lease runs out 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 professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.