I am purchasing a property mortgage free in Speke. I have been residing for the last dozen years in Speke. Conveyancing searches are a lot of money. As I have knowledge of the road and vicinity very well must I have all the conveyancing searches?
In the absence of a home loan, then all but one or two of the Speke conveyancing searches are non-obligatory. Your conveyancer will ’encourage you, no-doubt strongly, that you should have searches done, but he has a professional duty to take that path of guidance. One thing to consider; if you are going to sell the house one day, it could be of relevance to your prospective buyer what the searches determine. Sometimes premises with day to day issues can still show up unexpected search results. A good conveyancing solicitor in Speke should provide you some sensible guidance here.
I am the registered owner of a freehold property in Speke but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Speke and has limited impact for conveyancing in Speke 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 creation 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 post 2037 is to be extinguished.
Do the Building Society Association intend to launch a search tool with a view to list practices on the Melton Mowbray Building Society conveyancing panel for example in Speke?
We would not expect to be advised of any intention on the part of the BSA to promote such a search facility.
I purchased a terraced Victorian property in Speke. Conveyancing solicitor acted for me and Britannia. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the matching property. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Speke and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing practitioner who conducted the conveyancing.
I have been sourcing a conveyancing lawyer in Speke for my purchase. Is it possible to check a firm’s record with the profession’s regulator?
Members of the public can see published Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Visit Check a solicitor's record. For details about the period before 1 January 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The SRA could monitor call for training requirements.
I would like to rent out my leasehold flat in Speke. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
A small minority of properties in Speke do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I inherited a 1 bedroom flat in Speke, conveyancing having been completed January 2012. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Speke with a long lease are worth £195,000. The ground rent is £45 levied per year. The lease expires on 21st October 2087
With only 62 years remaining on your lease the likely cost is going to be between £17,100 and £19,800 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.