I purchased a freehold residence in Creekmouth but still invoiced for rent, why is this and what is this?
It is rare for properties in Creekmouth and has limited impact for conveyancing in Creekmouth 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 many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Old 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 extinguished.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Creekmouth. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 1/8/2020, the requirements read as follows :
I have recentlybecome aware that Stirling Law have been shut down. They carried out my conveyancing in Creekmouth for a purchase of a leasehold apartment 10 months ago. How can I be sure that my home is in my name in the name of the previous owner?
The easiest way to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Creekmouth conveyancing specialists.
I am looking for a ground for flat up to £235,500 and identified one round the corner in Creekmouth I like with a park and railway links in the vicinity, however it's only got 61 years unexpired on the lease. I can't really find anything else in Creekmouth for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan that many years may be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
Should I appoint a Creekmouth conveyancing lawyer based in the area that I am hoping to buy? An old friend can conduct the conveyancing however her office is a couple of hundredmiles drive away.
The benefit of a local Creekmouth conveyancing practice is that you can visit the firm to sign paperwork, hand in your identification documents and pester them if necessary. They will also have local knowledge which is a plus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and they were content that must trump using an unknown Creekmouth conveyancing solicitor solely due to them being local.
What is the difference between surveying and conveyancing in Creekmouth?
Conveyancing - in Creekmouth or anywhere in England and Wales - is the process of legally transferring legal title of property from one person to another. It involves the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are intending to buy and will help you find out about the condition of the building and, if there are problems, give you leverage for negotiating the buying price down or asking the seller to remedy the problems before you move in.