I am the registered owner of a freehold residence in Wigton but nevertheless charged rent, why is this and what is this?
It is rare for properties in Wigton and has limited impact for conveyancing in Wigton 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 generation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I am the only beneficiary of my late grandmother’s estate with all property in now in my sole name, including the my former home in Wigton. The Wigton property was put into my name in October. I now wish to sell up. I do know about the CML six month 'rule', which means that my proprietorship will be treated the same way as if I'd bought the house in October. Will no one buy the property for half a year?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. many banks would take a sensible view as this provision is chiefly there to identify subsales or the wholesaling and assigning of properties.
When it comes to mortgage companies such as UBS, do Wigton solicitors have to pay an annual charge to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Skipton have agreed my mortgage in principle, my offer on a property in Wigton has been accepted, what are the next steps?
The property agent will need to know who your solicitors are (make sure the solicitors are on the lender’s approved list). Telephone Skipton or the financial adviser and finalise any outstanding paperwork. Skipton will instruct a valuer who will get in contact with the estate agent or seller to schedule an appointment. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Skipton will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Wigton.
The estate agent has sent us the confirmation of our purchase of a new build flat in Wigton. Conveyancing is daunting 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 selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Wigton
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I am looking for a ground for flat up to £245,000 and identified one close by in Wigton I like with open areas and railway links nearby, however it only has 49 years unexpired on the lease. There is not much else in Wigton suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage the remaining unexpired lease term will be an issue. Discount 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 a minimum of 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
I am a sole trader looking to take over a lease of an office on the high street. Can you recommend solicitors offering fixed fees for non-domestic conveyancing in Wigton for below 2k?
We can recommend firms who have specialist knowledge of commercial conveyancing in Wigton, including the sale and purchase of businesses as well as simply premises. Whether you are intending to purchase or dispose of a shop, pub, restaurant, office, retail unit or a whole business we can find you the right lawyer. As for the charges these will vary based on the structure and terms of the proposed transaction. Please provide us with your details or email us so that we can supply you with a fixed commercial conveyancing quote.
I am buying a leasehold flat in Wigton. Conveyancing quotes are averaging around £1800. Does that seem right?
The average fee in 2014 for conveyancing in Wigton was £1,419 not including SDLT and Land Registry fees.