I am the registered owner of a freehold house in Billericay but nevertheless pay rent, why is this and what is this?
It is rare for properties in Billericay and has limited impact for conveyancing in Billericay 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 fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
We are selling our house in Billericay. Does the conveyancing practitioner have to be on the Aldermore conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Aldermore conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
Just had an offer accepted on a new build apartment in Billericay. 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 enquiries that you may expect your new-build leasehold conveyancing in Billericay
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan.
Am I right to be suspicious about brokers that I am dealing with are recommending a nationwide conveyancing firm rather than a High Street Billericay conveyancing company?
As is the case with many service providers, often referrals from connections can be extremely useful or valuable. Nevertheless there are lots of parties with a vested interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies may recommend solicitors to use. On occasion these lawyers might be known to one of the organisations as being good in their field, but sometimes there might be a commercial relationship behind the recommendation. You are free to select your preferred conveyancer. You need to be aware that many banks specify a panel list of conveyancers you must use for the mortgage related work in your home move.
Can you offer any advice when it comes to choosing a Billericay conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Billericay conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with several firms including non Billericay conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
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What are the costs for lease extension work?
I am the registered owner of a 1 bedroom flat in Billericay, conveyancing was carried out 9 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Billericay with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £50 per annum. The lease comes to an end on 21st October 2093
You have 68 years left to run the likely cost is going to be between £9,500 and £11,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns 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 based on this information before seeking the advice of a professional.
My mortgage broker has suggested using their property lawyer for my conveyancing in Billericay - Is it not simpler better to just use them?
You need to establish if the estate agent is recommending a property lawyer or introducing to a conveyancer. There are plenty of Billericay selling agents who recommend two or three Billericay conveyancing firms and get nothing from it.