I'm in the process of changing my domestic loan to a BTL Britannia mortgage. I have been informed by my broker that I need a lawyer for this. I had a chat the same Whickham conveyancing practitioner who dealt with the legals when I initially purchased the premises. The quote supplied of £500 has taken me by surprise as its a remortgage than a sale or purchase.
The quote is fractionally on the expensive side. If you shop around you could get the conveyancing a bit cheaper by as much as £125. On the other hand, providing that you were pleased with the assistance the firm gave you maycome to regret opting for an an unknown conveyancer. Remember to check the solicitor can also act for Britannia. Do utilise our search tool to select a Whickham conveyancing firm on the Britannia member panel, which can often include conveyancing solicitors in Whickham.
I am the registered owner of a freehold premises in Whickham yet invoiced for rent, why is this and what is this?
It is rare for properties in Whickham and has limited impact for conveyancing in Whickham 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 establishment of fresh rentcharges from 1977 onwards.
Previous 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.
About to purchase a new build flat in Whickham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Whickham
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. 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. 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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Whickham is where the house is located. Can you offer any assistance?
Flying freeholds in Whickham are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Whickham you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Whickham 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.
Am I better off to choose a Whickham conveyancing practitioner in close proximity to the house I am purchasing? I have an old university friend who can conduct the legal work but they are based a couple of hundredmiles away.
The benefit of a high street Whickham conveyancing practice is that you can visit the firm to sign documents, present your ID and apply pressure on them if necessary. Having local Whickham know how is a bonus. However it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and in the main were impressed that must trump using an unfamiliar Whickham conveyancing solicitor just because they are round the corner.
Planning to complete next month on a garden flat in Whickham. Conveyancing solicitors inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Whickham should include some of the following:
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Responsibility to repair and maintain the building. It is important for you to know who is responsible the repair and maintenance of every part of the building Setting out your rights in respect of the communal areas in the building.For example, does the lease grant a right of way over an accessway or hallways? Alterations to the premises You would want to receive a copy of the lease
I inherited a ground floor flat in Whickham, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Whickham with over 90 years remaining are worth £165,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2102
You have 78 years unexpired the likely cost is going to range between £7,600 and £8,800 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.