I own a freehold residence in Westgate on Sea but still pay rent, why is this and what is this?
It’s unusual for properties in Westgate on Sea and has limited impact for conveyancing in Westgate on Sea 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 creation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
My friend recommended that where I am buying in Westgate on Sea I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Westgate on Sea conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Westgate on Sea around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics 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 data concerning Westgate on Sea.
Are there restrictive covenants that are commonly identified as part of conveyancing in Westgate on Sea?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Westgate on Sea. 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've recently found out that there is a flying freehold element on a property I have offered on last month in what was supposed to be a simple, chain free conveyancing. Westgate on Sea is where the house is located. What do you suggest?
Flying freeholds in Westgate on Sea are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Westgate on Sea you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Westgate on Sea may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I need to instruct a conveyancing solicitor for sale conveyancing in Westgate on Sea. I happened to land on a web site which looks to be the ideal answer If it is possible to get all this stuff completed via web that would be ideal. Should I be wary? 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?
I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Westgate on Sea. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
The majority of houses in Westgate on Sea are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Westgate on Sea so you should seriously consider shopping around for a Westgate on Sea conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor will report to you on the legal implications.
I purchased a split level flat in Westgate on Sea, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Westgate on Sea with a long lease are worth £206,000. The ground rent is £45 yearly. The lease runs out on 21st October 2091
With 66 years unexpired we estimate the price of your lease extension to range between £11,400 and £13,200 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.