I have given 8 weeks notice to my current landlord and must leave my rented property in Hampton by the end of next month. Conveyancing on my purchase is progressing. How realistic is it to complete in 4 weeks as don't want to have to find temporary accommodation?
Generally one should not serve notice on a rental unless exchange of contracts has taken place. If you have not previously done so, notify to your conveyancer and request that they apply pressure on the other lawyers, try to get a realistic time scale from them that all parties will work to achieve
I own a freehold residence in Hampton yet pay rent, why is this and what is this?
It is rare for properties in Hampton and has limited impact for conveyancing in Hampton 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 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 after 2037 is to be dispensed with completely.
How does conveyancing in Hampton differ for newly converted properties?
Most buyers of new build premises in Hampton come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is built. This is because house builders in Hampton tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Hampton or who has acted in the same development.
I am looking for a flat up to £245,000 and identified one near me in Hampton I like with amenity areas and transport links in the vicinity, however it only has 51 years on the lease. I can't really find anything else in Hampton for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage that many years may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
I am selling my property. My former solicitors closed down. It would be helpful to have a recommendation of a conveyancing firm. Im based in Hampton if that affects matters.
You should use our search tool to help you choose a solicitor for your conveyancing in Hampton. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
What advice can you give us when it comes to appointing a Hampton conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Hampton conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Hampton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:
What are the costs for lease extension work? If they are not ALEP accredited then what is the reason?
I am the registered owner of a ground floor flat in Hampton. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?
in cases where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the sum to be paid.
An example of a Lease Extension case for a Hampton residence is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case related to 1 flat. The unexpired lease term was 82.93 years.