I purchased a freehold residence in Wollaston but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Wollaston and has limited impact for conveyancing in Wollaston 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
My grandfather passed away last year and as sole heir and executor I was left the house in Wollaston. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to TSB, pay off the mortgage. Is this possible?
Where you intend to refinance then TSB will require that you use a conveyancer on the TSB conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your TSB conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the TSB mortgage is registered as a charge at the Land Registry.
Have just purchased a repossessed house at auction in Wollaston. Conveyancing is necessary. What is next?
Having legally bound yourself to purchase you now have to hire the services of a conveyancing practitioner quickly as you are facing a tight a fixed date to complete the conveyancing. An auction property should have an associated legal pack. This should include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the auction papers should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to a leasehold property. You need to hand this to your appointed conveyancing solicitor ASAP. You also need to ensure that your finances are in order to complete on the on the contractual date .
We are aiming to move home in September. Does my conveyancing solicitor update the removal company on the day of completion. Incidentally, can you put forward a removal company in Wollaston. Conveyancing firm was organised before I stumbled across this page.
On the day of completion you can collect the keys from the property agent but this should only take place after the previous owners solicitors advise the agent that the monies to complete are in and the keys can be given over. Subsequently you can advise the removal men that they can start moving you in. As a matter of policy we do not recommend a particular removal company but can help you locate a residential property solicitor in Wollaston or a lawyer with expertise in conveyancing in Wollaston.
I have decided to exercise my right to buy my property in Wollaston off the council. I have a mortgage offer with Barclays. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
I am buying a new build flat in Wollaston. Conveyancing is necessary evil 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 conveyancing.
Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Wollaston
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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. Please supply a car parking plan. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. 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.
I am using a search engine for the term on line conveyancing in Wollaston it reveals many conveyancersin the area. How do I determine which is the suitable conveyancer for my move?
The preferential way of finding the right conveyancer is through a trusted recommendation, so ask friends and relatives who have bought a property in Wollaston or the reputable estate agent or mortgage broker. Charges for conveyancing in Wollaston differ, so it's advisable to request a minimum of three fee calculations from different law firms. Dont forget to clarify what costs in the quote includes.
I've recently bought a leasehold property in Wollaston. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a ground floor flat in Wollaston, conveyancing was carried out 10 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Wollaston with an extended lease are worth £201,000. The ground rent is £45 invoiced every year. The lease terminates on 21st October 2089
With 64 years unexpired we estimate the premium for your lease extension to range between £15,200 and £17,600 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.