I purchased a freehold residence in West Haddon yet charged rent, why is this and what is this?
It is rare for properties in West Haddon and has limited impact for conveyancing in West Haddon 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 fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
My property lawyer in West Haddon is not on the TSB Conveyancing Panel. Is it possible for me to continue with my prefered solicitor notwithstanding that they are not on the TSB list of approved lawyers?
Your options are as follows:
- Carry on with your preferred West Haddon lawyers but TSB will need to use a lawyer on their panel. This will result in additional total conveyancing charges and cause delays.
- Find an alternative solicitor to act in the purchase, obviously checking they are on the TSB panel
What will a local search inform me concerning the house we're buying in West Haddon?
West Haddon conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for example PSG The local search is essential in every West Haddon conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your property. The search will provide information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
Are there restrictive covenants that are commonly picked up during conveyancing in West Haddon?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in West Haddon. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I need to retain a conveyancing solicitor for residential conveyancing in West Haddon. I have chance upon a site which appears to be the ideal solution If there is a chance to get all the legals completed via phone that would be ideal. Should I be wary? What are the potential pitfalls?
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?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £425,000 garden flat in West Haddon next week. The management company has quoted £420 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in West Haddon?
West Haddon conveyancing on leasehold flats often requires the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be content to do so. They are at liberty to levy a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the charge is technically not due. In reality one has little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I am the registered owner of a leasehold flat in West Haddon, conveyancing formalities finalised 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in West Haddon with a long lease are worth £186,000. The ground rent is £55 invoiced annually. The lease ceases on 21st October 2079
With just 53 years left to run the likely cost is going to range between £27,600 and £31,800 plus costs.
The suggested premium range 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. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.