I purchased a freehold premises in Tring but nevertheless charged rent, why is this and what is this?
It is rare for properties in Tring and has limited impact for conveyancing in Tring 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 new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
A colleague recommended that if I am purchasing in Tring I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Tring conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Tring around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Tring Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful information regarding Tring.
How does conveyancing in Tring differ for newly converted properties?
Most buyers of new build residence in Tring come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Tring usually 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 property lawyers 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 used to new build conveyancing in Tring or who has acted in the same development.
I am looking for a leasehold apartment up to £245,000 and found one round the corner in Tring I like with amenity areas and transport links in the vicinity, the downside is that it's only got 49 years on the lease. I can't really find anything else in Tring suitable, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
I'm refinancing my primary property to a buy to let loan with National Westminster Bank and intend to use the remaining equity as a down payment on another property. The area we are talking about is Tring. Will your conveyancers be able to act for both sets of banks and link together the transactions?
Make use of our comparison tool on this site to check that the conveyancers are on the relevant lender panels. Having checked that they are your solicitor should be able to connect the two transactions but you should talk with you solicitor and make clear your desired outcome and requirements.
I need to find a conveyancing solicitor for sale conveyancing in Tring. I have stumble across a web site which appears to be the ideal solution If there is a chance to get all the legals completed via email that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?