I own a freehold premises in Highnam yet charged rent, why is this and what is this?
It is rare for properties in Highnam and has limited impact for conveyancing in Highnam 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 creation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
is it true that all Highnam conveyancing solicitors on the Santander conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Santander approved list of solicitors they would need to be regulated by the SRA. Many mortgage companies do allow licenced conveyancers on their panel in which case such practice would be regulated by the CLC.
I am expecting a DIP from Coventry BS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Coventry BS recommend any Highnam solicitors on the Coventry BS conveyancing panel, or is it better to go independently?
You will need to appoint Highnam solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
Planning on purchasing a maisonette in Highnam. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Highnam property lawyer is on the Lloyds conveyancing panel.
My partner and I are selling our house in Highnam and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. Any local lawyer would know that there is no such problem. It does beg the question why the purchasers used a nationwide conveyancing practice rather than a conveyancing solicitor in Highnam. Having lived in Highnam for many years we know of no issue. Is it a good idea to contact our local Authority to obtain confirmation that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
The estate agent has sent us the confirmation of our purchase of a new build flat in Highnam. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Highnam
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants.
In scouring the internet for the phrase conveyancing in Highnam it reveals numerous conveyancersin the area. With so much choice what is the best way to find the suitable property lawyer for me?
The best way of finding a suitable conveyancer is through a trusted testimonial, so ask colleagues and those you trust who have bought a property in Highnam or the local estate agent or mortgage broker. Charges for conveyancing in Highnam differ, so it's advisable to request at least three fee estimates from different conveyancers. Make sure that you clarify that the charges are guaranteed not to increase.
What advice can you give us when it comes to finding a Highnam conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Highnam conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Highnam conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:
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What are the legal fees for lease extension work? How familiar is the firm with lease extension legislation?
I invested in buying a split level flat in Highnam, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable flats in Highnam with a long lease are worth £170,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease runs out on 21st October 2104
With just 78 years left to run we estimate the premium for your lease extension to span 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 cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.