I own a freehold premises in Collier Row yet pay rent, why is this and what is this?
It is rare for properties in Collier Row and has limited impact for conveyancing in Collier Row 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
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.
We just had an offer accepted to buy with Earl Shilton BS. We have called around locally but am unable to find a Collier Row conveyancing firm on the Earl Shilton BS approved list. Can you assist?
You should make the most of the search tool on this page. Please choose the building society and type Collier Row or your preferred area and you will see a number of lawyer offices in Collier Row or by proximity to you.
I have been on the look out for a flat up to £245,000 and identified one close by in Collier Row I like with open areas and transport links nearby, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Collier Row in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage that many years will likely be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
How do I use the search app to find a conveyancing practitioner in Collier Row on the authorised to act for my bank?
Step one is to choose a mortgage company such as Santander, Bank of Scotland or Clydesdale then choose your preferred area a common one being Collier Row. Conveyancing organisations in Collier Row and further afield should be identified.
We're FTB’s - agreed a price, yet the selling agent has warned us that the seller will only go ahead if we appoint their chosen conveyancers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local conveyancer accustomed to conveyancing in Collier Row
It is unlikely the vendors are driving this. If they desire ‘a quick sale', alienating a motivated buyer is is going to put the whole deal at risk. Speak to the owners direct and make the point that (a)you are genuine buyers (b)you are excited to move forward, with finances arranged © you are chain free (d) you intend to proceed fast (e)but you are going to instruct your own,trusted Collier Row conveyancing lawyers - not the ones that will give their negotiator at the agency a kickback or meet his conveyancing thresholds pre-set by head office.
Helen (my wife) and I may need to let out our Collier Row garden flat for a while due to a career opportunity. We instructed a Collier Row conveyancing practice in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
The lease dictates the relationship between the landlord and you the leaseholder; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Collier Row do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Collier Row conveyancing firm to act on my behalf?
Where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to decide the price.
An example of a Lease Extension decision for a Collier Row residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The remaining number of years on the lease was 57.5 years.