I own a freehold house in South Oxhey yet charged rent, why is this and what is this?
It is rare for properties in South Oxhey and has limited impact for conveyancing in South Oxhey 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 post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
I had a mortgage agreed in principle with Yorkshire BS. South Oxhey conveyancing lawyers are instructed. What is the average time that one could expect to receive a mortgage offer from Yorkshire BS?
There is no definitive answer here. Have Yorkshire BS conducted the valuation? Have you informed Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
It is unclear whether my mortgage offer requires a lease extension. I have called my South Oxhey building society branch on various occasions and was reassured it wasn't a problem and they would lend. My South Oxhey conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend based on their published requirements. I have no idea who is right.
Provided that the lawyer is on the mortgage company approved list, they must comply with the Council of Mortgage Lenders’ Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
After what seems like an age I have had an offer on a flat in South Oxhey accepted, but there is a chain. The vendors have placed an offer on a flat, but it’s not yet tied up, and have viewings of other apartments in the pipeline. I have instructed a high street conveyancing solicitor in South Oxhey. What do I do now? When do I get the mortgage application with UBS going?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then survey, South Oxhey conveyancing search costs, etc). The first thing to do is check that your solicitor is on the UBS approved list. As to the subsequent phase this very much depends on the specifics of your transaction, attraction to this property and on the state of the market. During a buoyant market the majority of buyers would apply for the mortgage with UBS and pay for the valuation and only if it was satisfactory would they pay their property lawyer to move forward with the conveyancing in South Oxhey.
What can a local search reveal concerning the house we're purchasing in South Oxhey?
South Oxhey conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company for instance Xpress Legal The local search plays an important role in most South Oxhey conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
The estate agent has sent us the confirmation of our purchase of a new build flat in South Oxhey. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in South Oxhey
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There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Please confirm the Lease plans are architect prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
In what way can the Landlord & Tenant Act 1954 impact my business premises in South Oxhey and how can you help?
The particular law that you refer to provides security of tenure to commercial lessees, granting the dueness to apply to court for a renewal tenancy and continue in occupation when the lease comes to an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and help with commercial conveyancing in South Oxhey
In scouring the internet for the term conveyancing in South Oxhey it shows results of numerous property lawyerslocally. With so much choice what is the best way to find the suitable solicitor for purchase transaction?
The best method of seeking a suitable conveyancer is via trusted recommendation, so ask friends and relatives who have acquired a property in South Oxhey or a respected estate agent or mortgage broker. Fees for conveyancing in South Oxhey differ, so it's sensible to secure at least three estimates from varying types of solicitors. Be sure to secure confirmation what costs in the quote includes.