In the event thatI was to purchase a freehold homein Coningsby for cash and have no survey and no local authority searches how much could I expect to have to pay for conveyancing in Coningsby?
Any savings you would gain will be limited to the Coningsby conveyancing searches. Your property lawyer is required to do the vast majority of work - money laundering, liaising with your sellers conveyancer, stamp duty return, register the title etc. A marginal saving might be made by not having to register a charge but it will not be meaningful.
I purchased a freehold property in Coningsby but nevertheless pay rent, why is this and what is this?
It is rare for properties in Coningsby and has limited impact for conveyancing in Coningsby 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 new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
We are selling our apartment in Coningsby. Does the conveyancer need to be on the Santander conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Santander 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 at the moment.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to have this when purchasing a property in Coningsby? or I am told that there is historic law that could mean that homeowners residing in a parish church boundary will be compelled to contribute towards maintenance to the chancel within the church. Is this a legitimate concern for conveyancing in Coningsby?
Unless a previous acquisition of the premises completed after 12 October 2013 you may take it that solicitors delivering conveyancing in Coningsby to remain encouraging a chancel search and or insurance against a claim.
I opted to have a survey done on a property in Coningsby in advance of appointing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some mortgage companies will not issue a mortgage on such a home.
It varies from the lender to lender. Santander has different instructions for example to Halifax. Should you wish to call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Coningsby. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Coningsby to see if the conveyancing will be more expensive.
Expecting to complete next month on a leasehold property in Coningsby. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Coningsby should include some of the following:
-
Whether the lease restricts you from renting out the property, or having a home office for business What options are open to you if a neighbour is in violation of a provision in their lease? You should know if the lease permits you to alter or improve aspects of the property- you should know whether any restrictions applies to all alterations or just structural alteration, and whether permission is mandated necessary Specifying your rights in relation to the communal areas in the building.For instance, does the lease provide for a right of way over an accessway or staircase? You should be sent a copy of the lease
I am the registered owner of a leasehold flat in Coningsby, conveyancing was carried out November 2003. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Coningsby with over 90 years remaining are worth £165,000. The ground rent is £50 invoiced annually. The lease expires on 21st October 2102
With only 78 years remaining on your lease we estimate the premium for your lease extension to be between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" 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 comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.