I own a freehold house in Grasmere but still pay rent, why is this and what is this?
It’s unusual for properties in Grasmere and has limited impact for conveyancing in Grasmere 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 establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
We are planning to purchase with Coventry BS. We have called around locally but am unable to find a Grasmere conveyancing firm on the Coventry BS panel. Can you help?
Please do take advantage of the find a lender approved solicitor tool on this site. Please choose the lender and type Grasmere or your location and you will be presented with numerous conveyancers located in Grasmere or nearest you.
I am being told by my lawyer that lack of right of way insurance is required on my purchase. What is the level of cover for Grasmere conveyancing?
The right level of lack of right of way indemnity insurance depends on your lender. It would differ for example between Santander and Virgin Money. Conveyancing lawyers as opposed to members of the public take out such policies.
We were going to get 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 Grasmere solicitors on the Clydesdale conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Grasmere solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
After weeks of negotiation I have agreed a price on a house in Grasmere. My mortgage broker suggested a conveyancer. I paid an advanced payment of £150. A few days later, the solicitor contacted me sheepishly admitting that they were not on the RBS 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 RBS 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 am a couple of weeks into a freehold purchase having been recommend to solicitors by the estate agent to execute conveyancing in Grasmere. I am not happy. Can you help me find new solicitors?
They would have to be very poor to suggest changing them. Has the loan offer been generated? In the event that it has you need to advise them of the replacement conveyancer and ensure the mortgage documents are issued to the new lawyers. Your conveyancer needs to be on the mortgage company approved list to avoid escalating charges and complications. So that should be your first question of the new solicitors. The search tool can help you find a lender approved lawyer for your conveyancing in Grasmere
I work for a busy estate agency in Grasmere where we have witnessed a few flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Grasmere conveyancing solicitors. Please can you clarify whether the vendor of a flat can start the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I inherited a 2 bed flat in Grasmere, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Grasmere with a long lease are worth £255,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2097
With 73 years left to run the likely cost is going to range between £8,600 and £9,800 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
The conveyancing solicitors handling our conveyancing in Grasmere has forwarded papers to review that reveal that the property is unregistered with epitome documents. Why is the property not currently recorded at HMLR?
It is rare for premises in Grasmere not to be registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Plenty of Grasmere conveyancing practitioners should be familiar with this type of conveyancing but where uncertainty exists the conventional proposition nowadays appears to be for the current owners to register the title first and subsequently sell - this will have a knock on effect to cause a significant delay.