Find a Lender-Approved Local Conveyancer in Addlestone

I purchased a freehold residence in Addlestone yet charged rent, why is this and what is this?

It’s unusual for properties in Addlestone and has limited impact for conveyancing in Addlestone 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 creation of new rentcharges post 1977.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.

I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when purchasing a property in Addlestone? or I am told that there is a law dating back centuries that means some house owners residing in a parish church boundary may be liable to pay for repairs to the chancel within the church. Is this a legitimate concern for conveyancing in Addlestone?

Unless a prior acquisition of the house completed post 12 October 2013 you may expect solicitors carrying out conveyancing in Addlestone to remain recommending a chancel search and or chancel repair liability insurance.

How does conveyancing in Addlestone differ for new build properties?

Most buyers of new build premises in Addlestone approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in Addlestone typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Addlestone or who has acted in the same development.

My husband and I are novice buyers - had an offer accepted, but the estate agent has warned us that the vendor will only proceed if we appoint the agent's chosen conveyancers as they want a ‘quick sale’. We would rather use a family conveyancer accustomed to conveyancing in Addlestone

It is improbable the owners are behind this. If they want ‘a quick sale', turning down a motivated purchaser is counter productive. Contact the owners directly and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you intend to instruct your preferred Addlestone conveyancing solicitors - not the ones that will earn the negotiator at the agency a commission or meet his conveyancing targets pre-set by corporate headquarters.

We expect to complete the disposal of our £250,000 garden flat in Addlestone on Tuesday in a week. The management company has quoted £300 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Addlestone?

For most leasehold sales in Addlestone conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

Answering pre-exchange enquiries Where consent is required before sale in Addlestone Copies of the building insurance and schedule Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Addlestone leasehold property is £350. For Addlestone conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

I am the leaseholder of a garden flat in Addlestone. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum due for a lease extension?

You certainly can. We can put you in touch with a Addlestone conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Addlestone residence is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The unexpired lease term was 82.93 years.

Threeweeks into purchasing a property in Addlestone. Conveyancing solicitor has called to say the title is "Leasehold". Will this likely adversely affect the salability of the house?

Addlestone conveyancing does not usually involve leasehold houses. The crucial consideration here is the length of lease and the ground rent. If there are over a hundred years remaining with a peppercorn rent, it's essentially freehold, so it shouldn't impact the value significantly.

At the other end of the spectrum, if it's, say, Sixty years it is bound to have a adverse effect on the value, and most likely wouldn't be mortgageable. The remaining lease term and ground rent will be specified in the lease which should be made available to your property lawyer.