I purchased a freehold house in Llanfairfechan but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Llanfairfechan and has limited impact for conveyancing in Llanfairfechan 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 new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
Is it necessary to pay for insurance to cover chancel repairs when acquiring a house in Llanfairfechan?
Unless a previous acquisition of the premises completed post 12 October 2013 you can assume that conveyancing practitioners conducting conveyancing in Llanfairfechan to remain recommending a chancel search and or chancel repair liability insurance.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. Llanfairfechan is where the house is located. Can you offer any advice?
Flying freeholds in Llanfairfechan are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Llanfairfechan you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Llanfairfechan may decide 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 premises.
How does the Landlord & Tenant Act 1954 affect my business property in Llanfairfechan and how can your lawyers assist?
The 1954 Act provides protection to business tenants, granting the a statutory right to apply to court for a new tenancy and remain in occupation when the lease comes to an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in Llanfairfechan
There are only Seventy years unexpired on my flat in Llanfairfechan. I need to get lease extension but my landlord is can not be found. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have done all that could be expected to locate the freeholder. For most situations a specialist would be useful to carry out a search and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Llanfairfechan.
I inherited a basement flat in Llanfairfechan, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Llanfairfechan with over 90 years remaining are worth £265,000. The ground rent is £50 levied per year. The lease ends on 21st October 2100
With just 76 years unexpired the likely cost is going to range between £8,600 and £9,800 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
Some weeks ago I was told by my lender that their panel lawyers work on no move no fee basis for conveyancing in Llanfairfechan. My purchase fell through yet the lawyers want search fees! They say the fees are seperate!
in promising "no completion no fee" Llanfairfechan conveyancing firms are writing off their charges for any work done. We must stress this is not to be regarded as an insurance scheme. you will still required to reimburse any costs that the lawyer has outlayed on your behalf for instance Llanfairfechan local authority searches