I am the registered owner of a freehold residence in Gunnislake yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Gunnislake and has limited impact for conveyancing in Gunnislake 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 post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
A friend advised me that where I am buying in Gunnislake I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your Gunnislake conveyancing searches. It is not a small report of more than thirty pages, listing and setting out significant information about Gunnislake around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Gunnislake Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Gunnislake Education with maps and statistics, Local Amenities and other useful data regarding Gunnislake.
It has been three months since my purchase conveyancing in Gunnislake concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Gunnislake is where the house is located. Can you shed any light on this issue?
Flying freeholds in Gunnislake are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Gunnislake you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Gunnislake may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am on look out for some leasehold conveyancing in Gunnislake. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Gunnislake - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a 1 bedroom flat in Gunnislake, conveyancing formalities finalised 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Gunnislake with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease runs out on 21st October 2088
With 67 years left to run the likely cost is going to span between £10,500 and £12,000 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
I need to consider quotes for conveyancing in Gunnislake from three solicitor and appoint one. Am I right to get them to hold tight until I I have an offer accepted on a house.
You should wait to get your lawyer to commence work and submit searches after the sales memorandum has been sent by the estate agent particularly as Gunnislake conveyancing searches are costly.