I purchased a freehold house in Kingsbridge yet pay rent, why is this and what is this?
It’s unusual for properties in Kingsbridge and has limited impact for conveyancing in Kingsbridge 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 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 one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I need some fast conveyancing in Kingsbridge as I am faced with an ultimatum to complete within one month. A home loan is not required. Can I decline from having conveyancing searches to save fees and time?
If.Given you are are a cash purchaser you are at free not to do searches although no lawyer would advise that you don't. With lots of history conveyancing in Kingsbridge the following are instances of what can be revealed and therefore impact future saleability: Enforcement Notices, Overdue Charges, Outstanding Grants, Road Schemes,...
I opted to have a survey done on a house in Kingsbridge in advance of instructing solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some lenders may refuse to give a loan on a flying freehold home.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Kingsbridge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Kingsbridge to see if the conveyancing will be more expensive.
What does commercial conveyancing in Kingsbridge cover?
Kingsbridge conveyancing for business premises covers a wide range of advice, supplied by regulated solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
As co-executor for the will of my uncle I am disposing of a residence in Neath but I am based in Kingsbridge. My solicitor (who is 235 miles awayneeds me to execute a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing solicitor in Kingsbridge who can witness and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are based in Kingsbridge
I've recently bought a leasehold flat in Kingsbridge. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a 1st floor flat in Kingsbridge, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Kingsbridge with over 90 years remaining are worth £192,000. The ground rent is £55 yearly. The lease ends on 21st October 2080
With only 54 years unexpired we estimate the premium for your lease extension to be between £32,300 and £37,400 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.