Can conveyancing in Acocks Green to be finalised in less than 10 days?
In the event that you are under a tight deadline for your conveyancing we would recommend that your conveyancer is familiar with the area as they will make use of local connections and insight. It is possible that they may have handled previoushomes in the same road. Therefore consider using a Acocks Green conveyancing solicitor. In addition, ensure that the conveyancing firm is on the on the approved list for your mortgage company. It is claimed that just under twenty per cent of Acocks Green conveyancing deals are held up or derailed after discovering a purchaser’s solicitor was not on their banks list of approved solicitors. In many cases this discovery resulted in the legal process being delayed by almost 21 days. It is said that this issue impacts approximately 100,000 home moves annually. Almost all Acocks Green conveyancing firms can not represent certain banks so do check as early as possible.
I am the registered owner of a freehold property in Acocks Green but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Acocks Green and has limited impact for conveyancing in Acocks Green 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 post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
I just acquired a property at auction in Acocks Green. Conveyancing is required. What are my next steps?
Having exchanged you must find a conveyancing lawyer quickly as you are faced with a pending a fixed date to complete the transaction. An auction property will have a bespoke auction set of papers. This will include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the conveyancing papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to leasehold premises. You must pass this on to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that that you have the requisite funding in place to complete on the on the contractual date .
My aunt advised me that in buying a property in Acocks Green there may be a number of restrictions as to what one can do in terms of external alterations to a property. Is this right?
There are anumerous of properties in Acocks Green which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Acocks Green should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am due to exchange contracts on my flat. I had a double glazing fitted in December 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Barclays are being problematic. The Acocks Green solicitor who is on the Barclays conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Barclays are requiring a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does the Landlord & Tenant Act 1954 affect my commercial premises in Acocks Green and how can you help?
The particular law that you refer to provides a safeguard to commercial leaseholders, giving them the dueness to make a request to court for a renewal lease and continue in occupation at the end of an expired lease. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in Acocks Green
I am tempted by the attractive purchase price for a two maisonettes in Acocks Green both have about fifty years remaining on the lease term. should I be concerned?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease reduces and it becomes more expensive to extend the lease. This is why it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field.
I invested in buying a 1 bedroom flat in Acocks Green, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Acocks Green with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease expires on 21st October 2093
You have 68 years unexpired the likely cost is going to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
At what stage do I incur the Stamp Duty Land Tax due for my conveyancing in Acocks Green?
Most conveyancers tend to complete a stamp duty return on your behalf during your Acocks Green conveyancing transaction for signature. After completion your property lawyer will submit the Land Transaction Return Form to the Inland Revenue and - assuming they have the funds - settle any land tax due on your behalf.