I purchased a freehold premises in Willen yet charged rent, why is this and what is this?
It’s unusual for properties in Willen and has limited impact for conveyancing in Willen 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 establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
A friend suggested that where I am buying in Willen I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Willen conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Willen around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Willen 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 Willen.
Just had an offer accepted on a new build apartment in Willen. Conveyancing is a frightening process 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.
Here is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Willen
-
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
In my capacity as executor for the will of my aunt I am selling a property in Neath but I am based in Willen. My conveyancer (based 235 miles awayrequires that I execute a stat dec prior to completion. Can you recommend a conveyancing practitioner in Willen who can witness and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are located in Willen
Do you have any top tips for leasehold conveyancing in Willen with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in Willen can be bypassed where you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold information needed by the purchasers’ lawyers. In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Willen leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord acquiescing to such changes. If you fail to have the approvals in place you should not communicate with the landlord without contacting your lawyer first. If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Obtaining a new share certificate can be a lengthy process and slows down many a Willen conveyancing transaction. Where a reissued share is necessary, you should approach the company officers or managing agents (where applicable) for this sooner rather than later. You believe that you know the number of years left on your lease but you should double-check by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 75 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.
Willen Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
-
How long is the Lease? Are there any major works on the horizon that could increase the service costs? On the whole the outlay for major works tend not to be included within maintenance charges, although a few managing agents in Willen require leaseholders to pay into a sinking fund created for the specific intention of establishing a fund for larger repairs or maintenance.
I am Googling for Willen online conveyancing estimates. Can I be confident that all the Willen firms that are listed on your website are on the mortgage company conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have assured us via an online form that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the bank panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Willen conveyancing solicitor being on the mortgage company conveyancing panel is not accurate.