I am the registered owner of a freehold residence in Wheathampstead but still pay rent, why is this and what is this?
It’s unusual for properties in Wheathampstead and has limited impact for conveyancing in Wheathampstead 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 many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
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.
What is the difference between a licensed conveyancer and conveyancing solicitor in Wheathampstead
There are many recorded licenced Conveyancers in Wheathampstead and Solicitor firms in Wheathampstead to choose from We would stress that the two are regulated professionals specialising in the legal work in transferring property. They may both also conduct associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Is it correct that all Wheathampstead CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing panel?
Some major banks and building societies now utilise CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of firms.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Wheathampstead solicitor - who is on the Skipton conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Skipton will need an independent valuation of the property. Your lawyer will not arrange this. Usually Skipton will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Wheathampstead surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Should my solicitor be making enquiries regarding flooding during the conveyancing in Wheathampstead.
Flooding is a growing risk for lawyers dealing with homes in Wheathampstead. Some people will acquire a property in Wheathampstead, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, but there are a number of searches that can be undertaken by the buyer or by their solicitors which can figure out the risks in Wheathampstead. The standard completed inquiry forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the seller to find out if the premises has suffered from flooding. In the event that flooding has previously occurred which is not disclosed by the vendor, then a purchaser may issue a claim for damages as a result of such an misleading answer. A purchaser’s lawyers may also carry out an enviro search. This should higlight if there is any known flood risk. If so, more detailed investigations should be conducted.
How does conveyancing in Wheathampstead differ for new build properties?
Most buyers of new build premises in Wheathampstead contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Wheathampstead tend to 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 accustomed to new build conveyancing in Wheathampstead or who has acted in the same development.
I have been on the look out for a flat up to £235,500 and found one near me in Wheathampstead I like with open areas and railway links in the vicinity, however it's only got 49 years on the lease. There is not much else in Wheathampstead in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the remaining unexpired lease term may be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
What does commercial conveyancing in Wheathampstead cover?
Wheathampstead conveyancing for business premises incorporates a broad range of guidance, given by regulated solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.