I purchased a freehold residence in Leominster but still pay rent, why is this and what is this?
It’s unusual for properties in Leominster and has limited impact for conveyancing in Leominster 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
A friend recommended that where I am purchasing in Leominster I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Leominster conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Leominster around the property and the people living there. It includes 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, Leominster Education with plans and statistics, Local Amenities and other useful data concerning Leominster.
I purchased my home on 8 October and my personal details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in Leominster advises it should be recorded inside ten days. Are properties in Leominster uniquely lengthy to register?
There is nothing unique about conveyancing in Leominster registration formalities. As opposed to being determined by geographic area, timeframes can adjust depending on who lodges the application, whether there are errors and whether the Land registry must send notices to any interested persons or bodies. At present roughly 80% of submission are fully addressed within two weeks but occasionally there can be protracted hold-ups. Registration is effected after the new owner is living at the property therefore an expedited registration is not always top priority but where there is a degree of urgency associated with the registration then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
Taking into account that I am about to part with 450k on 3 bedroom house in Leominster I would like to talk to a solicitor about myhome move before appointing the firm. Is this something that you can arrange?
We could not agree more - we would be happy to talk to you we do not take any clients on without you speaking to the solicitor due to be conducting your conveyancing in Leominster.There is no ‘factory style conveyancing’ - each client is an important individual, not a case reference. The practices that we put you in touch with believe that the fees you are quoted for residential conveyancing in Leominster should be the amount on the final invoice that you are charged.
Am I better off to use a Leominster conveyancing solicitor based in the location that I am buying? I have an old university friend who can carry out the legal work but her office is 200kilometers drive away.
The primary upside of using a local Leominster conveyancing practice is that you can pop in to sign paperwork, hand in your ID and apply pressure on them where appropriate. Having local Leominster know how is a plus. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and on the whole were content that should trump using an unknown Leominster conveyancing solicitor just because they are based in the area.
What advice can you give us when it comes to choosing a Leominster conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Leominster conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with two or three firms including non Leominster conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
Can they put you in touch with clients in Leominster who can give a testimonial?
I bought a 2 bed flat in Leominster, conveyancing formalities finalised 5 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Leominster with a long lease are worth £202,000. The ground rent is £60 yearly. The lease finishes on 21st October 2079
You have 57 years left to run we estimate the price of your lease extension to be between £28,500 and £33,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.