I own a freehold premises in Burnham but nevertheless pay rent, why is this and what is this?
It is rare for properties in Burnham and has limited impact for conveyancing in Burnham 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 generation of fresh rentcharges post 1977.
Previous 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 am expecting a AIP from Clydesdale this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Clydesdale recommend any Burnham solicitors on the Clydesdale conveyancing panel, or is it better to go independently?
You will need to appoint Burnham solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
I recently had an offer agreed on an apartment in Burnham. My financial adviser pressured me to appoint their conveyancer. I paid an on account payment of £200. A few days later, the solicitor contacted me sheepishly admitting that they were not on the Skipton conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Burnham solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Burnham surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Will commercial conveyancing searches reveal proposed roadworks that could affect a commercial land in Burnham?
Many commercial conveyancing solicitors in Burnham will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Burnham. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Burnham.
For every commercial conveyancing transaction in Burnham it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Burnham commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Burnham.
My husband and I are FTB’s - agreed a price, but the agent informed us that the owners will only go ahead if we appoint their recommended conveyancers as they are insisting on an ‘expedited deal’. We would rather use a family solicitor with experience of conveyancing in Burnham
We suspect that the owner is unaware of this ultimatum. Should the vendor require ‘a quick sale', turning down a motivated purchaser is likely to cause more damage than good. Try to communicate with the vendors directly and make the point that (a)you are serious purchasers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you intend to use your preferred Burnham conveyancing solicitors - not the ones that will earn their estate agent a kickback or achieve conveyancing targets pre-set by senior management.
I own a leasehold flat in Burnham. Conveyancing and National Westminster Bank mortgage organised. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Burnham who previously acted has now retired. Do I pay?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Burnham conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a 1st floor flat in Burnham, conveyancing was carried out July 1999. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Burnham with an extended lease are worth £181,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2076
With just 51 years left to run we estimate the price of your lease extension to range between £30,400 and £35,200 plus 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 are not able to provide the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
I am expecting to exchange buying a property in Burnham but as a consequence of wreckage from the recent storms I have negotiated recompense from the vendor of five thousand pounds taking the form of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process but my lender will not permit this. Why were they approached?
Any property lawyer that is on a mortgage company conveyancing panel is obliged to disclose to the bank of any changes to the sale amount. If you did not allow your lawyer to report the reduction to your mortgage company then they would need to disinstructing themselves from acting for you and the lender.