Would the conveyancing solicitors listed on your site execute conveyancing in Southmead by way of an attended exchange?
There are a few conveyancing experts carrying out 24hr exchanges. You should e-mail us to get a fee calculation and details as to availability.
I am the registered owner of a freehold residence in Southmead yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Southmead and has limited impact for conveyancing in Southmead 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 new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would much rather instruct a Southmead based conveyancing firm?
You should check but the the likelihood is that appoint one of their panel conveyancers where you accept the "fee-free" deal. Contact the mortgage company and determine if they allow a cash alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor near Southmead.
How does conveyancing in Southmead differ for newly converted properties?
Most buyers of new build premises in Southmead contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Southmead tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Southmead or who has acted in the same development.
I decided to have a survey carried out on a house in Southmead in advance of appointing lawyers. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some lenders tend refuse to issue a mortgage on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. If you call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Southmead. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Southmead to see if the conveyancing costs will increase in light of this.
Expecting to sign contracts shortly on a garden flat in Southmead. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Southmead should include some of the following:
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What you can do if another leaseholder in the building is in violation of a provision in their lease? Who has the liability to repair and maintain the building. It is essential for you to know which party is responsible the repair and maintenance of every part of the building Will you be prohibited or prevented from having pets in the property? The physical extent of the property. This could be the property itself but may incorporate a roof area or storage are if relevant. Details of the parties to the lease, e.g. these could be the leaseholder, superior lessor, freeholder
I invested in buying a basement flat in Southmead, conveyancing formalities finalised 3 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Southmead with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease runs out on 21st October 2081
With 56 years left to run the likely cost is going to span between £29,500 and £34,000 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. 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 move forward placing reliance on this information before getting professional advice.