I am the registered owner of a freehold premises in Welshpool yet pay rent, why is this and what is this?
It’s unusual for properties in Welshpool and has limited impact for conveyancing in Welshpool 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 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 am remortgaging my home in Welshpool, does my lawyer have to be on the Coventry BS Solicitor panel?
There is nothing to stop you using your solicitor, but Coventry BS will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Various web forums that I have visited warn that are the main reason for obstruction in Welshpool house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Welshpool.
About to purchase a new build apartment in Welshpool. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Welshpool
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Forfeiture - bankruptcy or liquidation must not apply under this provision. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are architect prepared. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
What are your top tips when it comes to appointing a Welshpool conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Welshpool conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Welshpool conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
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How familiar is the practice with lease extension legislation? What are the legal fees for lease extension conveyancing?
Welshpool Leasehold Conveyancing - Examples of Queries before Purchasing
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Most Welshpool leasehold apartments will have a service bill for the upkeep of the building invoiced by the landlord. If you buy the flat you will have to pay this charge, normally periodically during the year. This can be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a rentcharge for you to pay yearly, this is usually not a significant sum, say around £25-£75 but you need to enquire as on occasion it could be many hundreds of pounds. How many of the leaseholders are in arrears for their maintenance charge payments? How many years remain on the lease?
What are my options where I am dissatisfied with the conveyancer who did my conveyancing in Welshpool?
We live in an imperfect world, and is is a fact of life that every so often things do go wrong. That being said there is recourse if you were not happy with your conveyancing in Welshpool. This varies from trying to resolve matters directly with them, through to reporting a solicitor to their governing body. If things still aren’t sorted out you may consider getting in touch with the Legal Ombudsman.