I am the registered owner of a freehold premises in Knowle but nevertheless charged rent, why is this and what is this?
It is rare for properties in Knowle and has limited impact for conveyancing in Knowle 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 new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
When scouring mumsnet.com for a high-quality solicitor in Knowle, most say that I must use a CQS accredited solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in buying or selling property, trusted by some of the UK's biggest mortgage companies. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. The scheme does not cover licenced conveyancers. Knowle is one of the numerous areas in England and Wales where there are CQS lawyers.
My colleague suggested that where I am buying in Knowle I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Knowle conveyancing searches. It is not a small report of more than thirty pages, listing and setting out important information about Knowle around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information about Knowle.
I have been on the look out for a flat up to £245,000 and found one close by in Knowle I like with amenity areas and railway links in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Knowle for this price, so just wondered if I would be making a grave error buying a short lease?
If you need a home loan the shortness of the lease may be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
Should I appoint a Knowle conveyancing lawyer in close proximity to the house I am hoping to buy? We have a good friend who can conduct the conveyancing but his firm is located approximately 350miles drive away.
The primary upside of using a local Knowle conveyancing practice is that you can pop in to execute paperwork, hand in your identification documents and apply pressure on them if necessary. Having local Knowle know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and in the main were impressed that should surpass using an unfamiliar Knowle conveyancing solicitor solely due to them being based in the area.
I am purchasing a flat with all finances in place. I have provided solicitor with two separate evidence of photographic identification, bank statement, multiple utility bills. Now he needs a copy from a probate lawyer acknowledging that the funds are in order and that it has come from inheritance and not dealing E's in Ibiza.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Knowle conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.