I own a freehold property in Nottingham but nevertheless charged rent, why is this and what is this?
It is rare for properties in Nottingham and has limited impact for conveyancing in Nottingham 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 creation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
My aunt passed away six months ago and as sole heir and executor I was left the house in Nottingham. The house had a small mortgage remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this allowed?
Given you intend to refinance then Coventry BS will require that you use a conveyancer on the Coventry BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Coventry BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Coventry BS mortgage is registered as a charge at the Land Registry.
My wife and I are buying a apartment in Nottingham. It might be a silly question but how we can trust a solicitor? At some point we will need to deposit money into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is your number one tip for choosing a conveyancing solicitor in Nottingham
Do not opt for the lowest Nottingham conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
I am assisting my aunt sell her flat in Nottingham. Will the conveyancing solicitor order the energy assessment or it is for the owner to coordinate?
After the demise of Home Packs, energy performance certificates was kept a required part of moving house. An energy performance certificate must be commissioned in advance of the property being put on the market. This is not something that conveyancers ordinarily organise. Where you are using a Nottingham conveyancing practitioner they might be willing to arrange EPC’s given their relationships with reputable Nottingham energy assessors
I am purchasing a house and the lawyer has identified Chancel Repair to which the house may be obligated to pay given it’s proximity to the area of such a church. He has recommended insurance. Is this strictly required for conveyancing in Nottingham
Unless a previous acquisition of the house took place after 12 October 2013 you can take it that lawyers handling conveyancing in Nottingham to continue to recommend a chancel search and or insurance against a claim.
Over the last few months I have been searching for a flat up to £305k and found one round the corner in Nottingham I like with a park and transport links in the vicinity, the downside is that it's only got 51 years on the lease. I can't really find anything else in Nottingham for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
I only have Sixty One years unexpired on my lease in Nottingham. I am keen to get lease extension but my landlord is absent. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the lessor. For most situations a specialist should be helpful to carry out a search and prepare a report to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court covering Nottingham.
I invested in buying a 1st floor flat in Nottingham, conveyancing having been completed 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Nottingham with over 90 years remaining are worth £202,000. The ground rent is £60 invoiced every year. The lease expires on 21st October 2083
You have 57 years left to run the likely cost is going to range between £28,500 and £33,000 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 the actual costs without more comprehensive 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. Neither should you move forward based on this information without first getting professional advice.