I purchased a freehold residence in Thame but nevertheless charged rent, why is this and what is this?
It is rare for properties in Thame and has limited impact for conveyancing in Thame 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
We are selling our flat in Thame. Does the solicitor need to be on the Kent Reliance conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Kent Reliance conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
I used Arc property Solicitors several years ago for my conveyancing in Thame. I now require my file however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Thame of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How do I use the search tool to select a conveyancing practitioner in Thame on the authorised to act for my bank?
Step one is to choose a bank such as Birmingham Midshires, Bank of Scotland or Godiva Mortgages Ltd then choose your preferred area such as Thame. Conveyancing practices in Thame and nationally should be shown.
My husband and I are FTB’s - had an offer accepted, yet the agent told us that the owners will only go ahead if we instruct their recommended lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a local solicitor accustomed to conveyancing in Thame
We suspect that the seller is not behind this request. If they desire ‘a quick sale', taking such a hostile approach to a motivated buyer is not the way to achieve this. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)however you will continue to use your preferred Thame conveyancing lawyers - not the ones that will provide their estate agent a commission or meet his conveyancing figures set by corporate headquarters.
There are only Sixty One years remaining on my lease in Thame. I need to extend my lease but my freeholder is missing. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the landlord. For most situations a specialist would be useful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Thame.
I invested in buying a split level flat in Thame, conveyancing was carried out 8 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Thame with over 90 years remaining are worth £186,000. The ground rent is £55 levied per year. The lease expires on 21st October 2077
With just 53 years remaining on your lease we estimate the price of your lease extension to range between £27,600 and £31,800 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.