I am getting a offer of a home loan from Halifax. My intention is to use a Licensed Conveyancer in Audenshaw. Does the Halifax Solicitor panel include Licensed Conveyancers?
The Halifax conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
I own a freehold house in Audenshaw but still charged rent, why is this and what is this?
It’s unusual for properties in Audenshaw and has limited impact for conveyancing in Audenshaw 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 establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Audenshaw. Conveyancing is a frightening process 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 legal work.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Audenshaw
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I have been on the look out for a flat up to £195,000 and identified one close by in Audenshaw I like with a park and transport links nearby, however it only has 52 years unexpired on the lease. There is not much else in Audenshaw in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan that many years will be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
Can you offer any advice when it comes to finding a Audenshaw conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Audenshaw conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Audenshaw conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be helpful:
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How experienced is the firm with lease extension legislation? What volume of lease extensions has the firm carried out in Audenshaw in the last year?
Audenshaw Conveyancing for Leasehold Flats - A selection of Queries before buying
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Most Audenshaw leasehold properties will incur a service bill for maintenance of the block levied by the freeholder. Where you purchase the apartment you will have to meet this amount, normally quarterly throughout the year. This may be anything from several hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all likelihood there will be a ground rent to be met annual, normally this is not a significant sum, say around £25-£75 but you should to enquire it because occasionally it could be many hundreds of pounds. How many years remain on the lease? Who takes charge for maintaining and repairing the building?
Midway through the sale of a leasehold flat in Audenshaw. Conveyancing solicitors are doing their job but we have been asked to pay a fortune from the managing agents. So far we have paid £225 for a leasehold management pack and then another £118 for responses to queries raised by the buyers conveyancing practitioner.
Your property lawyer will unlikely have any control over the extent of the bill for this information but the typical costs for the information for Audenshaw leasehold premises is £380. When it comes to Audenshaw conveyancing transactions it is customary for the seller to cover the costs. The freeholder or their agents are not duty bound to address these questions although many will be willing to do so - albeit often at exorbitant prices out of proportion to the work involved. Unfortunately there is no legislation that mandates fixed charges for administrative tasks. There is no prescriptive time limit by which they are obliged to supply the information.