I own a freehold house in Tonypandy but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Tonypandy and has limited impact for conveyancing in Tonypandy 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 creation of new 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 dispensed with completely.
My bank has recommended a law firm on their panel based in Tonypandy but I would rather instruct a conveyancing lawyer in Tonypandy round the corner to me. Can you assist?
It is by no means the case that all Tonypandy conveyancing practitioners are approved and listed on all banks conveyancing panel. Use the above search tool to choose a Tonypandy conveyancing solicitor on the on the lender panel.
My relative advised me that where I am buying in Tonypandy I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Tonypandy conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Tonypandy around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Tonypandy Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Tonypandy Education with plans and statistics, Local Amenities and other useful information regarding Tonypandy.
I am buying a new build flat in Tonypandy. 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.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Tonypandy
-
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan. Please confirm the Lease plans are surveyor prepared. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
How simple is it to use your search tool to locate a conveyancing lawyer in Tonypandy on the authorised to act for my bank?
First select a bank such as Halifax, Skipton Building Society or Britannia then type in your preferred area for instance Tonypandy. Conveyancing firms in Tonypandy and nationally will then be shown.
I am a negotiator for a busy estate agent office in Tonypandy where we see a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Tonypandy conveyancing solicitors. Can you confirm whether the vendor of a flat can instigate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a basement flat in Tonypandy, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Tonypandy with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease runs out on 21st October 2095
With just 70 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.